QuickBooks Enhanced Payroll

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Employee Advance In QuickBooks A advance is an advance payment to an employee that covers legitimate business expenses. This guide outlines the recommended process for handling cash advances when using Tallie with QuickBooks Desktop/QuickBooks Online. this text will show you ways to make a advance account, record a advance in QuickBooks, and deduct/offset advance balances once expenses are imported into QuickBooks.

Create a advance Account in QuickBooks: A advance is an advance payment to an employee that covers legitimate business expenses. This guide outlines the recommended process for handling cash advances when using Tallie with QuickBooks Desktop/QuickBooks Online. this text will show you ways to make a advance account, record a advance in QuickBooks, and deduct/offset advance balances once expenses are imported into QuickBooks. As a business owner, there'll be times when you’ll got to give an employee a advance . this might be for one among two reasons: you bought something for an employee with the agreement they're going to pay you back, or you’re giving an employee an advance on their check. Let’s re-evaluate the way to do record these in QuickBooks Online. First, you’ll want to make an Employee Advance account (unless you have already got one). If you regularly give out employee advances, creating sub-accounts would be helpful, using the employee’s name.

To Set-Up Employee Advances Account When you’re within the Accounting tab of QB, click “New” and therefore the Account template will popup, which you’ll found out accordingly:


Category Type → Other Current Assets Detail Type → Employee Cash Advances Name → Employee Advance If you purchased something for an employee’s personal use, with the agreement that the worker would pay you back, you’ll got to start by recording it as an Expense. Under “account,” you’ll got to select “Employee Advance” using the drop-down arrow. Include a memo with the employee’s name, stating it had been a private purchase/loan. When the worker pays you back, you'll list this as a Deposit. Select who you received the cash from and choose the “Employee Advance” account. Under description, it might be helpful to mention this is often a repayment of the advance. If an employee asks for a advance on their paycheck, you’ll select “Check” then choose the “Employee Advance” account. Write a memo with the employee’s name, stating this is often an advance on their next paycheck. To see all of this done within the QuickBooks app, watch our Tutorial. The video goes on to elucidate how you'd deduct advances from paychecks and what all of this activity seems like within your Employee Advance account. If you've got any questions, you'll always contact us +1-844-827-3817.