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bookkeeper89
October 4, 2022
Question

Can you direct deposit part of a paycheck into a 401k account (not associated with the company)?

  • October 4, 2022
  • 1 reply
  • 0 views
if an employee has a previously set up 401k account with another company can we direct deposit part of his payroll into that account (just like we do into a bank account)?

1 reply

T
TirzahC
October 4, 2022

Let me share information about setting up 401k, bookkeeper89.
 

In QuickBooks Online, adding 401k for other companies is not possible. This is for a one-time company-paid contribution only. What we can do is we need to create it separately.

 

I'm also adding this link that you can read to learn more about 401k and how to efficiently run your payroll: 

 

 

I added this article if you need more details about retirement plan deductions and contributions: Retirement plan deductions/contributions.


Also, here's the link for the detailed steps on how to run payroll-related reports: Run payroll reports in QuickBooks Online.

 

Keep me in the loop by leaving a reply below if you need more help about 401k or with your payroll. I'll be here ready to assist you.

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