Allocating Payroll Contributions and Taxes to Classes and Jobs

quickbooks tips and tricks

Did you know that you can allocate payroll contributions and taxes to classes and jobs?

The first thing you need to do is make sure the Allocated payroll contributions and taxes preference is turned on.

To do this, go to Edit -> Preferences ->

Job Costing Hudson Valley Bookkeeping Quickbooks Warwick

Payroll & Employees -> Company Preferences

Job Costing Hudson Valley Bookkeeping Quickbooks Warwick

and check the box “Job Costing, Class and item tracking for Paycheck Expenses”

Job Costing Hudson Valley Bookkeeping Quickbooks Warwick

Once that preference is turned on, check the box “Track Expenses By Job” when you set up an item you’d like to allocate to jobs.

You can also go into “existing payroll item” and turn this feature on.

 

Quickbooks won’t go back and retroactively allocate prior transactions, but all future ones will be.

Rochelle Dejong
Rochelle Dejong
My professional experience consists of over 30 years working in an accounting environment with numerous accounting software packages. My goal is to assist small business with their bookkeeping and financial needs to keep them up to date with their financial reports so that they may achieve their goals.