100% 401k contribution and how to account for the social security and medicare taxes.

I'm here to help you record this paycheck, sjhove1966.

In QuickBooks Desktop, you can create a zero paycheck instead of a negative one. To do this, just enter the 401K deduction and create an addition item (Cash Advance or Loan) in the Other Payroll Items section. The amount for the addition item should be the negative net pay amount on the paycheck. This is to zero out the net pay.

Here's how:

1. Click Employees at the top, and then select Pay Employees.
2. Click the schedule of your payroll if you have any, or click Start Unscheduled Payroll if you don't.
3. Check the employee's name on the list, and then click the Open Paycheck Detail button.
4. In the Other Payroll Items section, click the drop-down arrow below ITEM NAME. Select Add New.
5. In the Add new payroll item window, select Addition, and then click Next.
6. Enter the name of the addition item, and then click Next twice.
7. In the Tax tracking type section, select None.
8. Click Next, and then Finish.
9. On the paycheck, enter the Check amount beside the new item you've created. The net pay will be zeroed out.
10. Click Save & Close and proceed with creating the paycheck.

If you want the Medicare and Social Security taxes to be taken out, you'll need to have an earnings item. You can either divide the employee's salary in half; the first half for the earnings and the other half for the 401K deduction. Since we can't give direct suggestions on how to account for the federal taxes, it would be best to consult an accounting professional.

Please let me know if you have any further questions. I'll be here to answer them for you.