Add imputed pay
Imputed pay is considered non-cash compensation that is taxable, also known as fringe benefits. Add imputed pay to your payroll so that it's properly reported.
- Click the Benefits tab.
- Click Other/Charity.
- Click Custom Benefit.
- Add a benefit name, which will appear on the employee's paystub.
- Next to Employee Deduction Per Pay Period, enter $0.
- Next to Company Contribution Per Pay Period, enter a default amount with the value of the non-cash item.
- Click Save & Continue.
- Select which employees should have this benefit.
- Click Save.
- If applicable, modify the benefit details for each employee.
The next time you run payroll, we'll record the company contribution for imputed pay and tax the amount as part of the employee's gross wages. It will not be paid out to the employee since this benefit was already compensated in another form.