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:
- Go to Setup> Settings.
- Click on Payroll> Names > Income & Deductions.
- Rename an available Incomefield to Bonus
Step2: Verify the settings for this new income:
- In the Settings window, click on Incomeunder Payroll.
- The bonus will appear here, select Incomeunder the Type column.
- Select the appropriate taxes that should be applied.
Step3: Select a linked account for the new income category:
- In the Settings window, click on Linked Accountsunder Payroll.
- Click on Incomes.
- Select the account for the Bonus income (If an account is not available, one must be created).
- Click OKto close the Settings window.
- 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:
- Click on Employeesfrom the home screen (under Payroll).
- Go to the Income
- 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?
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.