Setting up Vacation Policies in Quickbooks

Quick Books Vacation Setup

Vacation time is an opportunity for workers to rest and return to work rejuvenated.

Time off can increase productivity, boost morale and instill
an appreciation for the benefits of working for a company.

Surprisingly, not accounting for this diligently can cost the company money. Many employers often complain about this.

To set up an employee to track sick/vacation in QuickBooks Pro and Premier:

1) Click on Employees on the top menu bar, then choose Employee Center.

2) Double-click the employee’s name.

3) From the Change tabs drop-down menu, select Payroll and Compensation Info.
Click Sick/Vacation.

4) In the Vacation part of the Sick & Vacation window, enter the amount of hours of vacation currently available for the employee in the Hours Available as of box. Note: This is the hours available as of today regardless of the date field. The date field defaults to the employee’s hire date in QuickBooks and does not impact the accruals. This field should indicate the amount of time available as of today.
In the Accrual period drop-down box, select how often the employee will accrue vacation.

There are 3 different ways to accrue Sick and vacation in QuickBooks:

Beginning of Year–Grant a certain amount of hours in the beginning of year.

Every Paycheck–Accrue certain number of hours per paycheck

Every Hour on Paycheck–Accrue every hour on paycheck.

In the Hours Accrued window, enter the amount of hours that will be accrued based on how often the employee accrues hours which you selected in the Accrual period drop-down box.

Enter the total amount of vacation hours the employee can have in the Maximum number of hours window.
Click the Reset hours each new year box if you want the number of vacation hours for the employee to start over at zero each new calendar year.

Click OK twice

Call us or contact us your Deerfield Beach Quickbooks Consultant

CPA Deerfield Beach

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Filed under Bookkeeping, Organized Records, Tax Planning

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