How to add Repeating Dollar Payments in Payroll
You may want to set up a repeating dollar amount to be automatically paid to an employee each payroll, without manually entering the dollars each time.
For example, if you pay an employee a housing allowance or a phone allowance in addition to their normal pay, you can set up a repeating money type on the employee’s record. This will be used each payroll, and can be changed or removed on the payroll screen.
How to Set Up Repeating Money Types
You can set up repeating money at either the company level or employee level.
Set up at Company Level
When you add a new Money Type under your company-level Settings > Payroll > Hours & Money Types > Add New Money Type, you will see a checkbox for “Repeating.” Check this box if you want to use this money type for paying an employee the same additional dollar amount each payroll in addition to their regular pay.
If you want to set a default repeating amount at the company level that is the same for all employees, such as giving everyone the same amount of phone allowance, check the box for “Default Repeating Amount” enter a dollar amount. You can change this later when you assign to an employee.
A Money Type must be set to repeat in order to add it to the employee’s record.
When you view your list of Money Types, you will see a column to show whether the Money Type is set to repeat.
Set up at Employee Level
To add a repeating money type for an employee on their “Pay Info” page:
- When adding or editing an employee’s Pay Info page, check the box beside “Pay an additional repeating money type.”
- If you have already set a Money Type to repeat, you will see a list of all money types that are available to repeat. If you need to create a new money type not in the list, click “Create New Repeating Money Type.” The Money Type you add here will be added to your company list, and can be used for other employees.
- Add a name for this new money type.
- Check the box to include in taxable income. For more details, see the help article What Types of Income are Taxable?
- If necessary, you can click “Show W-2 Settings” if this Money Type needs to be reported in a special box on Form W-2.
- Click “Add Money Type.” This is now available to use.
- Enter the dollar amount to be paid to this employee with each payroll. You can override this when you run payroll, if you need to skip or change the payment.