Thanks for coming back in the thread and clarifying your concern, jengilbert. Let me help you set up a one-off company pension using standard payroll in QuickBooks Online.
In QBO, setting up a one-off company pension is possible. To start, prepare your pension settings through your account and settings. Once done, let's set up your pension scheme. Here's how:
- In Account and Settings, select Payroll.
- Click the pencil icon beside Pension Schemes, then choose Add pension.
- From the dropdown list, decide your pension provider. To use another pension, select Other.
- Input the following detail requested.
- To work out when employees are auto-enrolled in the pension, choose Use Earnings threshold and use the latest defined earnings thresholds.
- Prefer the Taxation method.
- Leave blank for the employee rate and put the exact percentage in the employer contribution rates. Note that it is assigned automatically to all employees added to the workplace pension scheme.
Please take note of these details:
- Customizing the amounts in each employee's profile and when you run payroll is available in QBO.
- The minimum amounts required are automatically applied. You can also add more if you want. You may customize individual employees' amounts in their profiles later.
- Contribute the same amount, based on regular pay, into an employee’s workplace pension while the employee is on statutory leave required.
8. If done, Hit Save pension.
In adding a pension type, visit this article as your reference for further guidance: Set up workplace pensions in QuickBooks Online Standard Payroll.
Moreover, feel free to scan this link to help you manage more than one workplace pension scheme in QBO: Multiple Pensions for QuickBooks Online Standard Payroll.
Post here in the Community space if you need additional help setting up a one-off company pension in QBO. We're always ready to assist. Take care, and have a great day!
