What All Are The Steps For Set Up The Deferred Payroll Item?

CARES Co. social sc deferral payroll item qb 2018 

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Simply pick QuickBooks Desktop Help from the Help menu

 

Set up the deferred payroll item by following these steps:

  • Set up the deferred payroll item by following these steps:
  • Select New Payroll Item from the Employees menu, then Manage Payroll Items.
  • Choose Custom Setup and then Next.
  • Select Other Tax from the Payroll item type box, then Next.
  • Select CARES Co. Soc. Sec. Deferral from the Other tax box, then Next.
  • Enter CARES Co. Sec. Sec. Deferral in the text field of the Name used in paychecks and payroll report window, then choose Next.
  • Select the agency you pay taxes to from the dropdown in the Agency for company-paid liabilities window, then Payroll Liabilities in the Liability account dropdown, Payroll Expenses in the Expense account dropdown, and Next.
  • Select taxable compensation from the Compensation pane.

 

To know more information on the cares act payroll tax deferral

 Click on the given below link:

https://www.askforaccounting.com/know-cares-act-payroll-tax-deferral-process-in-quickbooks/

Benito R. Major Answered on May 17, 2022.
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