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TSC13
Level 1

How do i make a payment to a simple ira provider?

 
1 Comment 1
Kurt_M
QuickBooks Team

How do i make a payment to a simple ira provider?

Welcome to the Community space, @TSC13. I'll provide details to help you pay a Simple IRA provider and have it recorded inside QuickBooks Online (QBO).

 

Inside the program, please know that the option to process payment to a plan provider is unavailable. That said, you'll want to deposit the contributions to the Simple IRA providers. Once done, here's how you can record the payment inside QBO:

 

  1. Access your QuickBooks Online company.
  2. On the left navigational bar, click the Payroll tab and the select Employees.
  3. Choose an employee and then click the Start or Edit button in the Deductions and contributions section.
  4. Click + Add deduction/contribution.
  5. In the Deduction/contribution field, click the Dropdown arrow button and choose Simple IRA.
  6. Add all the important details in each field.
  7. Once done, click the Save button.

 

For more details, please see this page: Set up or change a retirement plan.

 

In addition, here's an article to help you keep track of all your employees' wages, taxes, deductions inside the program: Run payroll reports.

 

Our team is always ready to provide further assistance if you have any additional questions related to QuickBooks. We encourage you to visit us anytime or comment below so we can respond as soon as possible. Keep safe.

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