Do I have to make a separate payroll for ending on December 31st?

Answer

Great day to you, mjmfitnessllc,

Allow me to help share information about processing last payroll of the year.

In QuickBooks Desktop Payroll, we complied the Constructive Receipt principle. This means that you must report income the day it’s paid and not the period in which work was performed.

Thus, if the tax liability of that certain payroll is for 2018, then you may need to run payroll for the said date, since the tax liability of your payroll depends on its pay date.

Here’s a helpful article for additional insights: Payroll 101.

Please feel free to reach back out if you have further questions about processing Payroll in QuickBooks Desktop, I’d be happy to answer it for you. Have a wonderful day!

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