QuickBooks Tip - Child retain Garnishments

QuickBooks Tip - Child retain Garnishments-Salary Garnishment

How to set up, track and pay Child preserve Garnishments in QuickBooks seems to be a pretty favorite topic of discussion, I see this query frequently on many of the QuickBooks forums and news groups that I frequent, so here is a little tutorial for setting up a weekly Child preserve Deduction.

Salary Garnishment

Quick Facts About Child preserve Garnishments:

• Child preserve is a post (after) tax deduction from the laborer paycheck.
• It is potential that you will have more than one laborer with a Child preserve Deduction.
• It is standard to have laborer specific deduction items in your Payroll Item list.
• It is not needful to have laborer specific liability accounts on your Chart of Accounts.

Creating a Child preserve Garnishment deduction item in QuickBooks is pretty easy.

• From the Lists menu -> select Payroll Item List
• Click on the Payroll Item button (lower left) -> and select New
• Select the Ez-Setup method -> click the Next button

• Select the Other Deduction choice -> and click the Next button

• Check the Wage Garnishment choice -> click the Next button

• Enter information about who the money is sent to (this is a QuickBooks vendor), the catalogue number that must be displayed on the check, and how often the money must be sent in -> click the Next button and then click Finish.

At this point QuickBooks has created a payroll deduction item in your Payroll Item List called Wage Garnishment.  You will probably want to edit this item, changing it's name to something more meaningful - maybe something like laborer X Child preserve Or laborer X Cs.

• Go to Lists -> Payroll Item List -> find Wage Garnishment and double-click on it to Edit.
• In the Enter Name for Deduction field (it will say Wage Garnishment) just type in laborer X Cs -> and click the Next button

• For the liability account, make sure that you opt (or create) a sub-account of the normal Payroll Liabilities catalogue - a quick trick to add a subaccount right here on this window is to first opt the standard Payroll Liabilities account, then click into the box and type in ":Child Support" (without the quotes), you will immediately be told that the catalogue doesn't exist and you should opt Set Up; generate the catalogue and then opt it.
• Keep clicking the Next button on the following windows, changing nothing, until you arrive at the last window; where you will opt Finish.

Adding the Child preserve Garnishment to the Employees Record

• From the laborer Center, find and Edit the Employee
• Switch to the Payroll & recompense section by using the convert Tabs drop down menu
• Click into the Additions, Deductions & business Contributions section, and in the Item Name column, opt the deduction item, and give it an amount.

Each week when you run payroll, the specified number will be deducted from the employees paycheck and sent to the Liability catalogue and will be shown on your Chart of Accounts or a equilibrium Sheet Report.

To of course generate the check to be sent to the department collecting the money, you'll go to the Payroll Tab of the laborer center and opt it from the Pay Scheduled Liabilities section.

I hope you find this written tutorial helpful, if so please leave a comment.

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