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December 13, 2021
Question

How to set the taxation to the RRSP for contributions made by both the employee and employer?

  • December 13, 2021
  • 1 reply
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1 reply

December 14, 2021

Hi rae30123,

 

It's a pleasure to see you reaching out to Community.  Welcome!  Ensuring that your RRSP contributions are set up correctly is essential when paying your employees, and keeping in good standing with government guidelines.  QuickBooks Online Payroll makes adding and editing deductions and contributions seamless in just a few steps.  I'd be happy to help!

 

Here's how to add or edit the RRSP:

 

1. Open Payroll from the left menu and then Employees
2. Select the Employee and then Edit Employee
3. Scroll down to section #6 (Does [employee name] have any deductions)?
4. Click on Add/Edit deductions
5. And hit the Edit icon next to RRSP
6. Fill out the required fields for the Employee deductionCompany contribution 
7. You'll also see the Contribution Tax Settings

8. Hit Save when done

 

To review the related accounts, follow these steps:

 

1. Click on the Gear in the top right
2. Open Payroll Settings
3. Click on Accounting
4. Scroll down to see the accounts associated with each deduction

 

Here's an informative article that would be great for your reference, on how to set up and add deductions and contributions to an employee's payroll in QuickBooks Online.

 

If you require additional assistance, please contacting us. We'll work together with you in real time to ensure your employees are paid on time.

 

Enjoy the rest of your day!