Pension - Employee contributions after opt out

Natasha33 · ‎June 16, 2020

I have three new employee's that have written to the pension provider to opt out. I had already paid over April and I believe the pension company are going to repay this (employees say they are not convinced) but May Employees and Employers have been deducted but not paid over. Is there a way I can give them this money back but recorded as Pension in payroll?

Thanks

Ashleigh1 · ‎June 17, 2020

Hello Natasha33,

In advanced payroll, you won't need to do a journal to show this, when you opt them out it will ask if you want to process a refund.

View solution in original post

IamjuViel · ‎June 16, 2020

Hello, @Natasha33.

You can create a cheque or expense transaction to record employee reimbursement.

Go to the + New icon.
Select Cheque or Expense.
From the Payee ▼ drop-down and find the name of your employee.
Select the Category ▼ drop-down, then select a Pension liability account.
Enter the amount you have to return to your employees.
Click the Save and Close button.

You can read through this article for more detailed insights: Reimburse an employee.

Get back to us here if you have other questions. I'm always here to help.

Natasha33 · ‎June 17, 2020

Ah, I didn't think of that. As it was a payroll deduction, I assumed I needed to go back through payroll...

Presumably other than journalling, there is no way for me to unrecord the Employers pension in payroll either...?

Thanks

Natasha

Ashleigh1 · ‎June 17, 2020

Hello Natasha33,

Can we ask which payroll it is you are using in Quickbooks, is it Standard payroll or Advanced payroll?

Natasha33 · ‎June 17, 2020

sorry it is the advanced payroll

Ashleigh1 · ‎June 17, 2020

Hello Natasha33,

In advanced payroll, you won't need to do a journal to show this, when you opt them out it will ask if you want to process a refund.

View solution in original post

Pension - Employee contributions after opt out