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mgmccpa12
January 23, 2020
Question

How do I get Quickbooks to calc 401k on tips?

  • January 23, 2020
  • 2 replies
  • 0 views
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2 replies

Kristine Mae
Kristine Mae
January 23, 2020

You'll have to set up both items in the employee's profile so our program will calculate it, Mgmccpa12.

 

Although, 401k will also calculate on the wage since it's a deduction item.

 

I'll show you on how you can add them in the employee's profile:

  1. Click Employees, then go to Employee Center.
  2. Double-click the employee name to open their profile, then go to the Payroll Info tab.
  3. Under Additions, Deductions, and Company Contributions, add the tips and 401k. 
  4. Click OK. 

When you create the paycheck, these items will show.

 

 

If there's any other payroll questions, please don't hesitate to leave a comment below. 

BigRedConsulting
BigRedConsulting
January 23, 2020

@Kristine Mae 

The OP wants to know how to get a 401k, calculated as a percentage, to include Tips in the calculation.  You did not address the actual question with your answer.

 

@mgmccpa12 

To do this, make sure to list the Tip addition item before the 401k item, like this:

You can see here that the 10% 401-k deduction is calculating on $2000, including the Tips.

 

If you set up the employee record in this way, then it will be the default on new paychecks:

 

    K
    KateM7
    July 14, 2021

    Hello,

    I cannot get QB online to calculate Simple IRA pull from my tipped waitress!! Spent 3 hours on the phone with QB and they didn't help at all.

    Any help would be greatly appreciated.

    C
    ChristieAnn 11
    July 14, 2021

    Hi there, KateM7.

     

    Welcome back to the QuickBooks Community. We aim to deliver customer satisfaction at all times. And, this isn't the kind of customer service I desire you to experience. With this, may I ask if you encountered a specific error message? What happened when creating a paycheck? I appreciate any further details so I can present accurate details about calculating Simple IRA in QuickBooks Online.

     

    Please know that you're always welcome to comment below and add additional information or if you have other concerns or follow-up inquiries about managing your contributions in QBO. I'm just around to help. Take care always.

    K
    KateM7
    July 15, 2021

    Hello, 
    thank you for reaching out.

    QBO will not let me run my waitresses payroll when I set them up with their Simple IRA plan.

    I receive this message "Net pay must be greater than 0. To pay Holly Boucher, increase the pay or decrease the deductions. To exclude Holly from this payroll run, clear the checkbox."

    Not to sure what to do?

     

     

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