QB Issue Resolution:
Overtime rules here in US require they be paid and taxes calculated when earned. You need to include in gross pay, submit government taxes and withholdings when due, and reduce net pay to what it would be if there was no overtime. Book this to a current liability. Each pay stub will show the then current amount banked from net.
When they want it paid you add it in from the liability account and at that point it is non taxable to employee. They will see net owed to them
Resolution for Issue 'Our employees have signed an overtime agreement to bank their overtime instead of getting paid for them each pay. How do you set this up?' available: Yes (Solved).
Source: Intuit Community forum.
Our employees have signed an overtime agreement to bank their overtime instead of getting paid for them each pay. How do you set this up?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for bank their
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