Did you know you can allocate payroll contributions and taxes to classes and jobs? The first thing you need to do is make sure the Allocate payroll contributions and taxes preference is turned on. To do this, go to Edit | Preferences | Payroll and Employees | Company Preferences and check the box Job Costing, Class and item tracking for paycheck expenses. Once that preference is turned on, check the box Track Expenses By Job when you set up an item you’d like allocated to jobs. You can also go into an existing payroll item and turn on this feature. QuickBooks won’t go back and allocate prior transactions, but all future ones will be allocated.
QuickBooks tip of the day: Allocating Payroll Contributions and Taxes to Classes and Jobs
May 18, 2014