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dallen1
Level 2

401(k) Loan Payments for Employee through payroll deduction does not come up in my payroll liabilities to be paid

I have an employee who has taken a Loan from his 401(k).  Repayment MUST be through payroll deductions per the holding company of our 401(k).  I've set up the payroll item and added the item to his Additions, Deductions, etc. for each paycheck.  It is deducting it Net Pay, as it should and it is listed in my Payroll Liabilities report.  However, it does not appear in my Payroll Liabilities to be paid.

 

401(k) loan payment deduction.JPG

No Loan Payment appears.JPG

Payroll Liabilities Nov 2023.JPG

2 Comments 2
BigRedConsulting
Community Champion

401(k) Loan Payments for Employee through payroll deduction does not come up in my payroll liabilities to be paid

You may need to create a payment schedule for it - because liabilities without schedules don't appear in the payroll center.

ZackE
Moderator

401(k) Loan Payments for Employee through payroll deduction does not come up in my payroll liabilities to be paid

Thanks for getting in touch with the Community, dallen1. I appreciate your detailed information and screenshots.
 

If a liability shows as unpaid, you'll want to make sure you've paid and matched it to its relevant bank transaction. In the event you've already matched it, but it's still not showing up to be paid or on your payroll liabilities report, I'd recommend confirming you've set up the employee's 401(k) loan repayment item appropriately.
 

You can additionally review this information from one of our Community Champions which may come in handy moving forward.
 

If it's still not solved, you can use the Verify Data utility. It identifies known issues within company files and informs users if their Rebuild Data tool needs to be utilized afterwards.
 

Here's how it's used:

 

  1. Click Window, then Close All.
  2. In your top menu bar, go to File.
  3. Choose Utilities.
  4. Select Verify Data.

 

In the event its results show a "Your data has lost integrity," message, this indicates there's damage in your file. You can use the Rebuild Data utility to fix it. For specific errors, there may already be a resource for them on our support site.
 

If it displays a "QuickBooks detected no problems with your data," notification, or you've searched our help articles and didn't find any existing resources about the specific error it displayed, I'd recommend getting in touch with out Customer Care team. They'll be able to pull up your account in a secure environment, conduct further research with you, and create an investigation ticket if necessary.
 

I've also included a detailed resource about working with liabilities which may come in handy moving forward: Pay your non-tax liabilities

 

Please don't hesitate to send a reply if there's any additional questions. Have a great Wednesday!

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