QuickBooks Payroll and Retirement Plans

How to deduct employee contributions to a retirement plan in QuickBooks payroll. Whether CalSavers, the California mandated retirement plan, or a voluntary plan for workers, the deductions must be setup in QuickBooks payroll. Here's how to do it.

[karenhradecky]

Thank you! I was able to set up CalSavers Roth IRA quickly. I did choose Roth 401k which was confirmed below in another comment.

[janellejoy]

Excellent tutorial! You helped me with everything I needed to know! Thank you!

[Mmbizsolutionsclass]

Excellent video. Thank you for taking the time to make this tutorial it was extremely helpful.

[aliciaalexander]

Thank you for posting this content. Very helpful!

[Airistas]

Extremely helpful!! Thank You very much

[circleorange]

Hi Lance
First, I just want to say that I really appreciate the video instructions you posted on YouTube. They are very helpful, clear and straight to the point.
I went through your videos on how to set up 401k and pay for the employees. My question is that when I send the pay check to the 401k company (ie. Vanguard) in a lumpsum amount, then how does "Vanguard" will know how much of the 401k payment go to each employees that participate in the plan.

Thank you,

[jomission]

can you have a video thew matching part of the employer

[reggiem]

I am setting up a Simple IRA for about 5 employees. If I use the same payroll items (named “simple IRA emp” & “simple IRA match”), everyone’s investment for each pay cycle is lumped together. Since I will be making an online payment to the fund manager every month, I will need to manually enter each employees individual withholdings on the fund managers website as I make the payment. Will I need to create a separate payroll time for each employee in order to keep each individual’s total investment for the month separated?

[tammymartin]

Hi Lance I'm hoping you can help me. My question to you is when processing a Simple IRA check to the vendor, how do you list the liabilities account at the bottom of the check i.e employee contributions vs the company match contributions? Am I doing this correctly. For the employees it is list: Employees under Payroll Liabilities/company contribution simple/other current liabilities. The Employers it is listed: Employer Company contribution simple/Expense. Is this correct. It looks like the person before me did set it up where it is pulled for the payroll liability list, so I have to pay from the Vendor list.

[jennymacdonald]

HI Lance, my company started a Simple IRA plan last year with a 3% employer match. The employee contributions were deducted from the paychecks every month with no problem, but the employer match was never set up because it wasn't due until Jan 1st. Does that mean it has to be manually calculated for last year because it is now my responsibility to pay the employer match and I can't find a report anywhere showing me how much it is. I did follow your video and add it to the Pay Liabilities tab, but still nothing. Even when I check the report for custom payments, it only shows the employee portion. What am I missing?

[jomission]

do you need to pay the IRA individually or can you make a lump sum payment?

[FLcoast]

You just set up the employee contribution. Do you have to add an employer as well?

[Trusted_Advisor]

thanks - Simple IRA has mandatory company match - skipped that....

[erinlatham-ponneck]

I'm trying to set up my retirement deduction in QB, using Cal Savers as our plan Roth IRA is not specifically on the list, its it the same as the Roth 401k or Simple IRA? Thanks

[shanelewis]

Lance, My wife and I are trying to setup a simple IRA for her using ELite Quickbooks and her desktop looks nothing like yours. We can setup her contributions, but we can't find a way to enter the account information for the deduction to go to. What version of Quickbooks are you using and is it not supported in the Elite version?

[tristafaulks]

If the simple IRA is not tax deductible how come on the tax tracking type federal withholding is marked?