Simple IRA deductions to employees financial institution

I'll help you set up the Simple IRA deductions for your employees, Martina55.

In QuickBooks, there are two ways to set up a payroll item for retirement benefits. I've listed them below.

• EZ Setup (uses standard settings; recommended for most users)
• Custom Setup (allows editing of settings; recommended for experts)

To set up the item via EZ Setup, I'd suggest following these steps:

1. Click on the Lists menu.
2. Select Payroll Item List.
3. At the lower left of the Payroll Item List, click Payroll Item, and click New.
4. Select EZ Setup and click Next.
5. Follow the onscreen instructions.
6. After you create a payroll item, edit the payroll item to make sure all necessary vendor information has been entered. 

For Custom Setup, I'd recommend following the detailed instructions in this article: Set up a Payroll Item for Retirement Benefits.

Once you have the payroll item added, you'll need to manually add it to the employee's record. Here's how:

1. Go to the Employees menu and then select Employee Center.
2. Double-click the employee to open the Edit Employee window.
3. Click the Payroll Info tab.
4. In the Additions, Deductions and Company Contributions section, select the new payroll items from the Item Name drop-down list.
5. Click OK.
6. Repeat these steps for each eligible or participating employee.

Additionally, I've added these articles that'll help you learn more about setting up and managing payroll items in QuickBooks Desktop.

• Set up Roth 401(k) and Roth 403(b), and Roth 457(b) Plans
• Set up and Pay Scheduled or Custom (unscheduled) Liabilities
• Payroll Items on Paycheck are not Calculating or are Calculating Incorrectly

Feel free to comment down below if you have any other concerns or questions about setting up your Simple IRA deductions. I'm always glad to help in any way I can.