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There are several items in payroll that are paid by the company. The payroll program creates the Federal Unemployment, State Unemployment, Social Security, and Medicare taxes paid by the company for you. Other items paid by the company can be set up and tracked in your payroll program, for example a company contribution to a retirement plan, or a company paid medical insurance.
- In your payroll program, go to the "Payroll Items" screen.
- If the new Employer Paid item will apply to all employees, select "Employee List Settings" in red at the top of the listing of your employees to the left.
- If the item is to be assigned to just a few employees, select one of the employees from the list.
- Click on the green "New" button in the "Employer Paid" items section.
- Enter a name for the item being created, for example "Employer Pension".
- From the "Type" menu, choose the appropriate selection for the item. Normally, it would be a Flat Amount or a Percent of Gross.
NOTE: Types Federal Unemployment, Medicare, Social Security, and State Unemployment are for creating new taxes only. For example, if you need to create the Unemployment tax for a new state.
- If the amount/rate is the same for all employees enter the amount/rate.
- If the amount/rate will be different for all employees then leave it at 0.
- If you post your payroll to Quickbooks, select the appropriate Liability Account and Expense Account for the item to post to in Quickbooks.
- Click "OK" to create the item and have it appear under the Employer Paid section in green.
- If the amount/rate will be different for each employee, select an employee on the list that it applies to.
- Double-click on the item under the "Employer Paid" section in green.
- Enter the amount/rate for the employee and click "OK".
- The "P" that appears in front of the item with the employee highlighted indicates the item has been personalized for a specific amount/rate for the employee.
- Repeat the above steps to personalize the item for employees as necessary.