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Payroll set up for Oregon Saves

Quikbooks payroll deduction for OreSave is not correct.  It instructs you to set it up for Deduction on Gross payroll. The program does want it calculated on Gross Payroll amount. BUT this is a ROTH IRA contribution and must after tax or net pay.

1 Comment
Moderator

Re: Payroll set up for Oregon Saves

Thanks for posting here in the Community, @vdei.

 

Yes, you're correct! The OregonSaves is a Roth IRA contribution, and they should be made on after or post-tax basis. Since it's calculating based on the gross pay, let's change it to net pay instead.

 

Please follow these steps on how:

 

  1. Click the Lists menu at the top to go to the Payroll Item List.
  2. Right-click on OregonSaves and choose Edit Payroll Item.
  3. Hit Next until the Gross vs. net section.
  4. Pick net pay and Next and Finish.

 

For more information, consider checking out this article: Set up OregonSaves (OR Mandated Retirement Plan).

 

Let me know if you have any other issues or concerns in the comment section below. I'm more than willing to help. Have a good one!

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