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!
