How Pocket processes Gusto Payroll

Overview:

When you use Gusto for payroll management, Pocket sets up specific rules to properly categorize your payroll expenses. This article outlines the process and rules for managing payroll through Gusto and Pocket.

Vendor Rules Setup:

The Pocket ops team will set up the following Gusto rules under the Vendor rules page:

• Vendor name: "Gusto"; Type: outflow; Account: Payroll
• Keyword: "NET" — Total amount of direct deposits to salaried employees; Outflow; Account: Payroll
• Keyword: "REM" — Reimbursements for employee business expenses; Outflow; Account: Expense
• Keyword: "TAX" — Tax payments to state and federal agencies; Outflow; Account: Payroll tax
• Keyword: "CND" — Direct deposit payments to contractors; Outflow; Account: Contract labor
• Keyword: "FEE" — Outflow; Account: Payroll processing fee

Additional Recommendations:

• Manage all 1099 independent contractors using Gusto
• Use a tool like bill.com to manage company vendors that don't require 1099 filing
• These practices will streamline your 1099 filing process

Action Required:

If you use Gusto for payroll management, contact the Pocket ops team to set up the Gusto rules as described above.