How to Set up 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:

Step 1:  Rename one of the income categories as Bonus:

•         Go to Setup > Settings.
•         Click on Payroll > Names > Income & Deductions.
•         Rename an available Income field to Bonus

Step 2:  Verify the settings for this new income:

•  In the Settings window, click on Income under Payroll.
• The bonus will appear here, select Income under the Type column.
• Select the appropriate taxes that should be applied.

Step 3:  Select a linked account for the new income category:

•  In the Settings window, click on Linked Accounts under Payroll.
• Click on Incomes.
• Select the account for the Bonus income (If an account is not available, one must be created).
• Click OK to 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)

Step 4:  Now go to each employee that will have a Bonus:

•            Click on Employees from the home screen (under Payroll).
•           Go to the Income tab.
•           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?

•  Chat with us.
•  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.