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SusieQStL
Level 1

How does QBDT track Employer match limits on a Simple IRA when employees have different gross amounts

How does QBDT track Employer match limits on a Simple IRA when employees have different gross amounts

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Best answer January 07, 2021

Best Answers
Rose-A
Moderator

How does QBDT track Employer match limits on a Simple IRA when employees have different gross amounts

I can share some details on how QuickBooks tracks Simple IRA contributions, SusieQStL.

 

As long as you add the SImple IRA to the employee's record, QuickBooks will automatically track the employer match limits regardless of different gross amounts.

 

Tracking and calculating retirement plans with different gross pay depend on the paychecks created. You'll see the track of the total amount under the YTD column. See sample screenshot below.

 

 

You can run the Payroll Summary report to check your total contributions.


c.PNG

To know more about this item, check out this article: Set up a payroll item for retirement benefits (401(K), Simple IRA, etc.). This will provide you steps on how to set up other retirement plans in QuickBooks Desktop as well as adding them to the employee's record.

 

I’m more than happy to help you out again if you have follow-up questions about employer match limits as well as other QuickBooks contributions. Leave a reply in this thread with the details and I’ll be here to answer them for you. Have a nice day

View solution in original post

1 Comment
Rose-A
Moderator

How does QBDT track Employer match limits on a Simple IRA when employees have different gross amounts

I can share some details on how QuickBooks tracks Simple IRA contributions, SusieQStL.

 

As long as you add the SImple IRA to the employee's record, QuickBooks will automatically track the employer match limits regardless of different gross amounts.

 

Tracking and calculating retirement plans with different gross pay depend on the paychecks created. You'll see the track of the total amount under the YTD column. See sample screenshot below.

 

 

You can run the Payroll Summary report to check your total contributions.


c.PNG

To know more about this item, check out this article: Set up a payroll item for retirement benefits (401(K), Simple IRA, etc.). This will provide you steps on how to set up other retirement plans in QuickBooks Desktop as well as adding them to the employee's record.

 

I’m more than happy to help you out again if you have follow-up questions about employer match limits as well as other QuickBooks contributions. Leave a reply in this thread with the details and I’ll be here to answer them for you. Have a nice day

View solution in original post

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