Hello there, Operations22.
I understand the complexity of reconciling 401K contribution remittances in QuickBooks Desktop (QBDT).
To accurately record the remittance, we can write a check if you're using ADP to process your payroll. Doing so will deduct funds from the bank balance without affecting the expense accounts.
Here's how:
- Go to the Banking menu.
- Select Write Checks.
- Choose the Bank Account from the drop-down arrow.
- Put Pay to the order of.
- Choose the Account.
- Enter the Amount and other information needed.
- Hit Save & Close.
I also recommend seeking assistance from your accountant to help you choose the correct account.
Furthermore, ADP handles all employee deductions from gross wages. You don't need to separately record them in the program since you don't produce or file any payroll forms, including W2.
Additionally, you can refer to this article for steps about setting up scheduled payments and creating checks for benefits, deductions, and plan administrators like 401(k), insurance premiums, or garnishments: Pay your non-tax liabilities.
Let me know if you have other concerns about recording 401k in QuickBooks. I'm always here to help. Take care.
