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Adalius
March 7, 2023
Question

Reclassifying Deduction

  • March 7, 2023
  • 1 reply
  • 0 views

In Quickbooks Online, we setup two employees with deductions for the company retirement plan. We have both a 401(k) and a Roth 401(k), and the two employees were setup incorrectly as going to the 401(k), not the Roth 401(k), which was where it should have been set to allocate to. It was caught after payroll was run, but before contributions were deposited into the retirement accounts.

Is there any way to move their deductions to the proper account after payroll is finalized? We can deposit the cash correctly on the retirement end so I'm not worried about putting the money where it should go, but my concern is the Retirement Plans report will be off since it will show deposits into the wrong 401(k) account for each employee.

1 reply

M
MadelynC
March 7, 2023

I'd love to direct you to the best help available so this gets taken care of, @Adalius.


You can contact our Payroll Support team to help move these deductions to the proper account. Our representatives can make corrections to ensure employees' payroll and reports are accurate.


Before that, take a glimpse at our support hours so you’ll receive responses quickly. Then, you can follow the steps below to connect with us:

 

  1. Sign in to your QuickBooks Online account.
  2. Go to the Help (?) menu.
  3. Select the Search tab, then click Contact Us.
  4. Enter your brief concern in the field.
  5. Tap Continue.
  6. Click the Chat or Callback option.


These guides will provide you depth information about retirement plan deductions:

 


Feel at ease to comment down below if you have other questions or concerns besides your employees’ deductions. I’m always ready to help. Have a good one!

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