- Change the Default Accrual box from Sick to BOT and record the beginning hours of BOT in each employee's Accrual for BOT.
- Edit the Payroll Item: BOT Hourly Rate to point to a new liability account BOT Payable
- Create another Payroll Item for Overtime Hours and post the overtime hours to this Item on the time sheet..
- Make an entry to post the accrual for BOT Payable by employee in the register to increase the opening liability account for each employee, recording it to Opening Bal Equity or expensing it, if it wasn't previously set up as a liability.
- Edit the pay cheque to reduce the gross pay by posting negative hours to the BOT Hourly Rate item directly on the paycheque. This will adjust all of the withholding amounts on that pay cheque.
- Pay the BOT later by recording hours to be paid to BOT Hourly Wage Item either on a time sheet or directly to the subsequent pay cheque to increase the amount paid and reduce the BOT Payable. The correct amount of withholdings should appear.
How to set up Banked Overtime
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