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ralva
Level 1

3rd party 401k ER match

How do I manually enter the 401k match in QB to keep track of it for the CPA?

1 Comment 1
ReymondO
QuickBooks Team

3rd party 401k ER match

I'll you manually enter your 401k match in QuickBooks, @ralva.

 

First, let's create a payroll item so you can it on QuickBooks. Here's how:

 

  1. Go the Lists menu and select Payroll Item List.
  2. In the Payroll Item drop-down arrow, click New.
  3. Select Custom Setup and click Next.
  4. Choose Deduction and select Next.
  5. Enter the name 401k match and select Next.
  6. Fill in the rest of the information and continue clicking Next until you reach the last set up window.
  7. Click Finish.

 

Once done, you can follow these steps to record this payroll item: 

 

  1. Go to the Employees menu and select Employee Center.
  2. In the Payroll tab, select Pay Liabilities and click Adjust Payroll Liabilities under the Other Activities section.
  3. Enter the Date and the Effective Date.
  4. Select the Employee button.
  5. In the ITEM NAME column, select 401k match and enter the amount. 
  6. Fill in the rest of the information and select OK.

 

In addition, you can run the Payroll Summary report. This will help you review all payroll information for paid workers based on a date range. Just go to the Reports menu and select Employees & Payroll. Choose Payroll Summary.

 

That's it! Please let me know if there's anything else I can do to be of assistance. Wishing you and your business continued success in all that you do. 

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