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How to Setup Bonus Account in Sage Payroll?

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erick salah
How to Setup  Bonus Account in Sage Payroll?

Summary: Set up Bonus account in Sage payroll

  • Company want to pay a bonus for employees.
  • The bonus is considered an additional income.

Resolution:

Step1:  Rename one of the income categories as Bonus:

  1. Go to Setup> Settings.
  2. Click on PayrollNames > Income & Deductions.
  3. Rename an available Incomefield to Bonus

Step2:  Verify the settings for this new income:

  1. In the Settings window, click on Incomeunder Payroll.
  2. The bonus will appear here, select Incomeunder the Type column.
  3. Select the appropriate taxes that should be applied.

Step3:  Select a linked account for the new income category:

  1. In the Settings window, click on Linked Accountsunder Payroll.
  2. Click on Incomes.
  3. Select the account for the Bonus income (If an account is not available, one must be created).
  4. Click OKto close the Settings window.
  5. If your company uses Expense Groups, you will need to link the income there as well. (Setup, Settings, Payroll, Linked Accounts, Expense Groups)

Step4:  Now go to each employee that will have a Bonus:

  1. Click on Employeesfrom the home screen (under Payroll).
  2. Go to the Income
  3. Put a check mark beside the bonus and enter the amount if necessary (this amount can also be entered in the Paycheque screen).

Need help?

  1. Chat with us.
  2. Call our Sage 50 Support Team.

 

Related Resources:

Sage 50 Direct Deposit Payroll

Conclusion:

We hope now you can add bonus account in Sage payroll. In case you are still unable to add a bonus in Sage payroll of the employs, then you must connect with our Sage payroll support team at +1-844-871-6289 for the instant help. You can also connect with us via live Sage payroll chat support team at any hour of the day 24x7.

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