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Level 1

Lump sum contribution into employees 401k

My employer wants to contribute a lump sum into an employees 401k plan. 

What would be the best way to process this?

My predecessor used to create a bonus check, keep the employer match to our designated match percentage, and changed the

employee contribution be the remaining. With enough left to pay Medicare and social security. 

This process worked, but was wondering if there is a better way to process this. 

1 Comment
QuickBooks Team

Lump sum contribution into employees 401k

It's nice to see you here in the Community, @littletwoloves.


I'd like to let you know that you're already on the right track. I want to commend you for doing a great job in this process.


Creating a bonus check is the best way to record a lump-sum contribution for the 401k retirement plan in QuickBooks Desktop. This because the process covers the regular deductions of your employee which can be applied to the bonus amount.


To learn more about the types of bonus paycheck that you can create and on how to pay your liabilities in the system, you may consider checking these resources attached:

Know that you can visit me here in you have any other concerns. I'll be around to address them for you. Have a lovely day!

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