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How do I set up the Individual 401K payroll items?

Which payroll items (and which accounts should they point to) do I need to set up for Individual 401K withholdings?

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Best answer 09-09-2019

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401k deduction is a Payroll Item and points to payroll wi...

401k deduction is a Payroll Item and points to payroll withholding current liability account

401k company match is a Payroll Item and points to payroll withholding current liability account

Both are set up by going through payroll setup to add the items

View solution in original post

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Established Community Backer ***

401k deduction is a Payroll Item and points to payroll wi...

401k deduction is a Payroll Item and points to payroll withholding current liability account

401k company match is a Payroll Item and points to payroll withholding current liability account

Both are set up by going through payroll setup to add the items

View solution in original post

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Thanks! I set up the Payroll items. When I create a paych...

Thanks! I set up the Payroll items. When I create a paycheck I enter the employee's hours but the 401K W/H doesn't show up. I had set up a set amount in the payroll item. So do I have to enter it manually when I create a paycheck, and if so where?
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Instead of a set amount in the payroll item (since that w...

Instead of a set amount in the payroll item (since that would then apply to all employees, once you have the item created you add it to the Other Deductions in employee edit.  Then it will show up every time. This way you also might have with multiple employees different deduction and match rates.
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Ok, thanks! Very helpful!

Ok, thanks! Very helpful!

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