Skip to main content
MelissaC
MelissaC
July 29, 2019
Question

Employee optional retirement contribution reflected in reports

  • July 29, 2019
  • 1 reply
  • 0 views

We have an employee that pays a voluntary $100 contribution towards her retirement each pay period ($200/month). I have an ACH for the full retirement amount that the company pays, which includes her contribution, so when reports are run it appears that we pay $200 more for retirement than we actually do. How can I have reports reflect that a portion of the total amount paid comes from the employee and not the company?

1 reply

PreciousB
PreciousB
July 29, 2019

Thanks for sharing the complete details of your concern, MelissaC.

 

You'll have to edit and include a deduction item for the retirement plan payment in your employee's paycheck. This let's QuickBooks Desktop to track the amounts that they have contributed.

 

Here's how:

 

To add a deduction item:

  1. Click Lists at the top, then choose Payroll Item List.
  2. Right-click and select New.
  3. Choose Custom Setup and click Next.
  4. Select Deduction, enter a name and click Next twice.
  5. Choose None under Tax tracking type.
  6. Click Next four times and click Finish.

To add the addition and deduction item:

  1. Select Employees and choose Employee Center.
  2. Click on the Employees tab.
  3. Under the Transactions tab, double-click the paycheck want to edit.
  4. Click on Paycheck Detail.
  5. Tick the radio button beside Unlock Net Pay.
  6. Under the Other Payroll Items, add the addition payroll item and the amount on the per diem check.
  7. Add a deduction item and enter the same amount of the addition item.
  8. Click OK.

Once done, run the Payroll Summary report to review the retirement contribution.

 

Please reach out to me if you have any questions later on. I'm always happy to help. Have a good day.

Terms & ConditionsAccessibility statement