Try the QuickBooks Course for Free!

Termination Pay in QuickBooks Desktop Pro- Instructions

/ / Latest, Quickbooks
Create Termination Pay in QuickBooks Desktop Pro- Instructions: A picture of the initial screen that appears when you create termination paychecks in QuickBooks Desktop Pro.

Create Termination Pay in QuickBooks Desktop Pro: Overview

            Unlike normal, scheduled paychecks, you can create termination pay in QuickBooks Desktop Pro when an employee leaves the company. Doing this lets you edit the termination paycheck information and enter the employee’s release date. This tells QuickBooks Desktop Pro that the employee no longer needs regular, scheduled paychecks in the future.

            To create termination pay in QuickBooks Desktop Pro when an employee leaves, select “Employees| Pay Employees| Termination Check” from the Menu Bar. Doing this then opens the “Enter Payroll Information” window. Manually set the “Pay Period Ends” and “Check Date” dates. Then select the account from which the funds will be withdrawn from the “Bank Account:” drop-down.

            Then place a checkmark next to the names of the employees who need a termination check. To the right of their names, under the “Release Date” column, enter the employee’s release date. This information is updated within their employee record when you create the paychecks. Then click the “Continue” button to continue creating the paychecks.

Create Termination Pay in QuickBooks Desktop Pro- Instructions: A picture of the initial screen that appears when you create termination paychecks in QuickBooks Desktop Pro.

Create Termination Pay in QuickBooks Desktop Pro- Instructions: A picture of the initial screen that appears when you create termination paychecks in QuickBooks Desktop Pro.

            In the next screen, select whether to print the check or assign it a check number in the “Check Options” section. Then click the hyperlinked name of the employee within the list to open the “Preview Paycheck” window. Here, you can review and edit the payroll information, if needed. After entering or editing the paycheck details, click the “Save & Close” button.

            To create the paychecks, click the “Create Paychecks” button. If printing the paychecks within QuickBooks, click either the “Print Paychecks” or “Print Pay Stubs” button, as needed. Then click the “Close” button to finish.

Create Termination Pay in QuickBooks Desktop Pro: Instructions

  1. To create termination pay in QuickBooks, select “Employees| Pay Employees| Termination Check” from the Menu Bar to open the “Enter Payroll Information” window.
  2. Manually set the “Pay Period Ends” and “Check Date.”
  3. Select the account from which the funds will be withdrawn from the “Bank Account:” drop-down.
  4. Then place a checkmark next to the names of the employees who need a termination check.
  5. To the right of their names, under the “Release Date” column, enter the employee’s release date. This updates their information within their employee record when you create the paychecks.
  6. Click the “Continue” button to continue creating the paychecks.
  7. In the next screen, select whether to print the checks or assigned check numbers in the “Check Options” section.
  8. Click the hyperlinked name of the employee in the list to open the “Preview Paycheck” window if you need to review and edit the payroll information.
  9. After entering or editing the paycheck details, click the “Save & Close” button.
  10. To create the paychecks, click the “Create Paychecks” button.
  11. If printing the paychecks within QuickBooks, click either the “Print Paychecks” or “Print Pay Stubs” button, as needed.
  12. Click the “Close” button to finish.

Create Termination Pay in QuickBooks Desktop Pro: Video Lesson

            You can watch the following video lesson, titled “Creating Termination Paychecks,” to see how to create termination pay in QuickBooks Desktop Pro. This video is from our complete QuickBooks tutorial, titled “Mastering QuickBooks Desktop Pro Made Easy v.2020.”

TOP
Sale! $49 All-Access 0 Days 7 Hours 31 Minutes 50 Seconds      $199 $49 Entire Library!
See Deal