retroactive pay
QuickBooks Canadahow do i do retroactive pay?
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daVpr0s4yr4yUOacwZ5xHE
01/30/12 1:09pm PST
Viewed by asker 04/12/12 3:52pm PDT
Viewed by asker 04/12/12 3:52pm PDT
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Gary_Intuit
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To pay someone retroactive pay, i would do the following:
- Open the Payroll Item List
- Create a new 'Bonus' type payroll item and name it 'Retroactive Pay' or something like that.
- On the employee's next regular pay cheque, add this new payroll item.
- Enter the full retroactive amount for this item
By using a 'Bonus' type payroll item, the Income tax amount will be more accurate than using any other earning item for this scenario. This item also needs to be used on a regular pay cheque instead of a separate cheque so that CPP and Income Tax exemptions are not used again.
