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P
Pendozi Consulting
February 1, 2022
Question

Employee RRSP Deductions - How to make payment to RRSP Account

  • February 1, 2022
  • 1 reply
  • 0 views

Hello,

 

I have an employee that wants to have RRSP deductions from their pay cheque (i.e not employer contributions).

 

However, I cannot determine how to have QuickBooks actually put this money into the employees RRSP account. Do I have to do that manually each pay cheque by completing a bank transfer / e-transfer?

 

For example:

Employment Income: $2,500

Taxes:                        $500

RRSP Deduction:      $400

 

Net Direct Deposit amount: $1,600

 

In this case, the employee is only getting $1,600 deposited in to their bank account, and the employer is only remitting the $500 in taxes, and thus that $400 is not accounted for anywhere. Is there a way for Quickbooks to deposit this $400 into the employees RRSP account? 


Thanks!

1 reply

N
Nick K
February 1, 2022

Hi Pendozi Consulting.

 

Setting up RRSP deductions for your employees is a great way to track their contributions to it. I'd be happy to help you get your employees RRSP deposited.

 

QuickBooks Online lets you track the RRSP deductions made from an employees paycheque. When it comes to depositing that money in the RRSP, you'll need to do that manually. If you wish to have the ability to automatically deposit RRSP in the future I suggest sending feedback to our development team by following these steps:

  1. Select the Gear icon at the top, then Feedback.
  2. Enter your comments or product suggestions. Then select Next to submit feedback.

Once they receive your feedback they'll look into ways to possibly add this in future updates.

 

If you have any questions let us know and we'd be happy to help.

P
Pendozi ConsultingAuthor
February 1, 2022

Thanks Nick, appreciate this information!


I will be sure to send that feedback along to the development team to try to have this implemented in the future.

 

Thanks,

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