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office303
Level 1

how do you reverse an IRA company contribution after employee decided after one deduction they do not want to participate?

 
1 Comment 1
Ethel_A
QuickBooks Team

how do you reverse an IRA company contribution after employee decided after one deduction they do not want to participate?

I got you, @office303. I'll assist you in deleting and reversing the IRA contribution from your employee's payroll.

 

Let's begin by eliminating the item to prevent any future deductions.

 

Here's how:

 

  1. Go to Payroll, then Employees.
  2. Choose the employee's name.
  3. Under Deductions & contributions, click Start or Edit.
  4. Hit Edit ✎ next to the contribution you want to modify or click the Trash bin icon to remove the contribution.
  5. Click Save, then Done.

 

Reach out to our Customer Care team to amend your employee's paycheck. After we make the necessary corrections, you'll get an email with guidance on the subsequent steps.

 

Here's how:

 

  • Sign into your QuickBooks Online company.
  • Click on the Help (?) button.
  • Go to the Assistant tab.
  • You can enter the phrase "process a refund". For further assistance, choose to Talk to a human.


I'm adding this article that you can refer to further understand managing payroll contributions: Set up and manage company contributions.


For guidance on adding or modifying a retirement plan in the future, please check this article: Set up or change a retirement plan.


Feel free to reach out if you have any other QuickBooks inquiries or need advice on managing retirement benefits. Best wishes for ongoing success in your business.

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