I understand the importance of adding pension payment in QuickBooks Online (QBO), dawn. I'm here to share insights about this.
Setting up pensions in QuickBooks Online Standard Payroll involves several key steps to ensure compliance and accurate management of pension contributions. You can go to the Payroll settings and set up a pension scheme by providing details such as the pension provider, scheme name, and other necessary information.
Once done, you can add a pension type and choose the pensionable pay types you want to include in your pension earnings.
Here's how:
Go to the gear icon and then Account and Settings.
Click Payroll.
Select the pencil icon next to Pension pay types.
Once you add a pay type that can be excluded from pension calculations, like a bonus, it'll show here. If you're unsure of what you've chosen, reach out to your pension provider directly.