Asked by: Chauncey Panal
asked in category: General Last Updated: 16th March, 2020

How do I set up a 401k match in QuickBooks?

How do I set up the 401k Company Match?
  1. Click on the Employees menu.
  2. Double click on the employee name.
  3. Go to the Payroll Info tab.
  4. In the ADDITIONS, DEDUCTIONS AND COMPANY CONTRIBUTIONS section, add the 401(k) payroll.
  5. Insert the specific rate for this employee.
  6. Click OK, and repeat this for the rest of the employees.

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Accordingly, how do I categorize 401k contributions in QuickBooks?

QuickBooks Online Payroll

  1. Select Workers, then Employees.
  2. Select the employee's name.
  3. Select the pencil icon in the Pay section. Scroll down on the deductions section.
  4. Select Retirement Plans under Deduction/Contribution type. Then select the type of Retirement plan.
  5. Enter the name of the provider.
  6. Select Done.

Likewise, does QuickBooks offer 401k? For businesses that use QuickBooks Online Payroll, the integration transfers data from QuickBooks Online Payroll to Guideline, making 401(k) contributions automatic, eliminating the need to manage employee enrollment and send payroll contribution reports every pay period.

Also to know, how do I set up a simple IRA company match in QuickBooks?

To set up a retirement plan company contribution item using Custom Setup:

  1. From the QuickBooks Desktop menus at the top, click Lists > Payroll Item List.
  2. At the lower left of the Payroll Item List, click the Payroll Item button > New.
  3. Select Custom Setup and click Next.

How do I set up company contributions in QuickBooks?

Set up company contributions

  1. Select Employees.
  2. In the Deduction and Contributions section, select Edit.
  3. Select Add a Company Contribution.
  4. On the drop down, select the existing contribution or New Contribution.
  5. For the Amount per period, select the drop down arrow.

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