Set up a Severance Pay pay item in Payroll → Setup → Pay Item. For more details on adding a pay item, see the Help Article, Enter Pay Items.
Then add the pay item to the employee record using the Pay Data link. For more details on adding a pay item to the employee record, see the Help Article, Enter Employee Information → Pay Data.
Use Severance Pay in the Pay Description field and apply the correct Gross Pay account for the employee. When you run Payroll you may edit the time card to update the amount.
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