How To Setup QuickBooks Payroll Holiday Pay?
QuickBooks Desktop has a holiday pay attribute in payroll that allows you to manage the holiday pay. Managing holiday pay has become a lot much easy and affective than ever before.
This article will tell you about the holiday pay and to set up QuickBooks Holiday Pay without any difficulties. If you want a detailed information about the holiday pay or if you want any other help then you can contact us at our toll-free QuickBooks Payroll Support Phone Number +1800-210-5289.
What Is Holiday Pay?
Before setting up holiday pay in QuickBooks, you should understand about the holiday pay first. Holiday pay basically is an amount which is paid to the employees for holidays by the companies. The Holiday Pay includes federal holiday such as Thanksgiving Day, independence day, labor day etc., when the company is closed but the employees are paid for that day.
So, if there are any holidays during the pay duration, then the company has to pay the amount for that day in employees’ paychecks.
Most of companies follows the Federal Reserve holiday calendar, that says an employee should get minimum 9 paid holidays in a year.
How To Setup Holiday Pay To The Payday Page Of An Employee?
- Go to the Employees menu and then open the Employee Center.
- Select the employee and then click on Edit Employee option.
- Now, you should get a question that says- ‘How much do you pay this employee?’ Select ‘Add extra pay types’ if any other category is not being assigned or you can place your cursor to the pencil icon.
- Put a checkmark on the Holiday Pay box.
- Finally, click on Done to complete the process.
How Can You Add Holiday Pay And Accrual In QuickBooks Payroll?
QuickBooks Desktop allows you to add holiday time and accrual amount easily that you can refer while making any payment to the employees.
- Go to the Employees menu
and then open the Employee Center.
- If employee can be seen in the Employee Center then you have to right-click on and select Edit from the drop-down options.
- Click on Add New Employees if no name is available in the Employee Center.
- Go to the Payroll Info tab and then select Holiday Pay.
- Provide the amount that you want to Pay and YTD.
- Select Retain to let QuickBooks to make an estimate and accrual holiday pay.
- Select the Pay Every Period to let QuickBooks to calculate your employee’s holiday pay and add same for every paycheck.
- 4% is the default ration but it can be set as per your requirements.
- Select Apt Payroll Items Below Earning on the particular accrue holiday.
- Click on OK to complete the process.
How Can You Adjust Holiday Pay In The QuickBooks Payroll Holiday Day Software?
The changes made by you in the employee’s holiday pay will have an impact on your financial records and reports. You need to maintain your total of holiday pay accrued during the process of preparing upcoming paycheck.
- Go to the Pay Employees option from the Employees menu.
- You need to choose between Scheduled Payroll or Unscheduled Payroll.
- Select the employee and click on Continue.
- Validate your cheque preferences, dates for cheque and Pay Period gets over.
- Select the employee for which you want to make changes.
- Open the Review or Modify Paycheck window and enter the required paycheck details.
- A VacPay-Accrued will occur on your screen containing a sum included on the paycheck.
- Click on Save & Close.
- Select Create Pay Cheques to complete the process.
Get Help For Holiday Pay Payroll QuickBooks Issues & Problems
The provided solutions should be helpful for you in setting up the QuickBooks Payroll Holiday Pay. To configure the holiday pay in payroll properly, you should have a decent knowledge of payroll and accounting processes otherwise you may face several errors and issues. If you are not able to set up holiday pay in QuickBooks Payroll, then you can contact us at our toll-free QuickBooks Support Phone Number +1800-210-5289 to get instant support.