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February 4, 2023
Question

100% company paid pension

  • February 4, 2023
  • 1 reply
  • 0 views

how do you set up a 100% company paid pension in payroll to calculate on housing allowance as well as salary

1 reply

February 5, 2023

I can help you with setting up your employee's retirement plan in QuickBooks Online (QBO), @ChrchBkkpr

 

You can see all the supported retirement plans in QuickBooks Online Payroll under the Retirement plans.

 

Follow the steps below: 

 

  1. From your Payroll menu, go to the Employees tab.
  2. Select your employee.
  3. Scroll down to the Deductions & contributions section, and select Start or Edit.
  4. Click the + Add deduction/contribution button and select on  + Add deduction/contribution option. 
  5. Select Retirement plans
  6. Choose the retirement plan that suits this specific employee.
  7. Set all the information needed. 
  8. Click the Save button once you're done. 

You can also check the following article for more information about different state mandated retirement programs: Set up state-mandated retirement plans in QuickBooks Payroll. I'll show you how to choose a traditional retirement plan or the plans offered by your state. 

 

See this guide to learn more about retirement plans and how to report them on your payroll tax forms: Set up a retirement plan.

 

If you need help with navigating your QBO company, you can visit our website for tips and other resources for reference: QBOP Related Help. This will help you manage your employees, payroll, taxes, banking, and run reports.

 

I’ll be here to continue helping if you have any other questions or concerns besides setting up a retirement plan.