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slkidsclub
Level 2

I have set up the employees contributions towards a pension plan. How do I set up the company contribution to the staff's pension plan?

 
1 Comment 1
JamesM
QuickBooks Team

I have set up the employees contributions towards a pension plan. How do I set up the company contribution to the staff's pension plan?

Hi there, 

 

Glad to hear from you again. I'll be happy to steer you in the right direction with setting up a company contribution. 

 

To do this, follow the steps below:

 

 

  1.     Select Employees.
  2.     Select the employee's name.
  3.     Select the edit (pencil) icon beside Pay.
  4.     Select the edit (pencil) icon in the Deduction section to add a new item.
  5.     Select Deduction/contribution on the drop-down. Select the next drop-down. Then select the Contribution type. Provide the description you want to appear on the check.
  6.     On the drop-down, select $ amount or % of gross pay. Enter the amount or percentage rate.
  7.     If you want to specify an annual maximum amount for company contributions, enter the amount in the Annual Max field.
  8.     Select Ok.            

In order to get a specific answer on how to set it up to the staff's pension plan, I recommend reaching out to your accountant. Doing this helps prevent any discrepancies in the future. In case you have other questions, don't hesitate to reach out. I'll be here in case you need further assistance. 

 

Otherwise, enjoy the rest of your week! :) 

 

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