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Kfronsee
Level 1

Need 401k contribution removed from bonus check

Is there any way to set up a bonus check that takes the 401k contribution out?  Our plan requires 401k payments for bonus checks as well, but quickbooks does not allow me to adjust for that.

Solved
Best answer December 21, 2020

Best Answers
MirriamM
Moderator

Need 401k contribution removed from bonus check

Hello again, Kfronsee. Thanks for clarifying things out. 

 

Bonus and 401K are two separate payroll items. Usually, bonuses are money added on top of an employee's wages, while the latter is a deduction. Thus, when creating a bonus check, you'll need to separate it from a regular paycheck. And add the 401k withholding to the regular paycheck.

 

 Check out below links to learn more about the retirement plans and pay types in QuickBooks Online (QBO):

If you have any more questions or concerns, click the Reply button. Have a safe and productive rest of your week.

View solution in original post

3 Comments 3
Jen_D
Moderator

Need 401k contribution removed from bonus check

Hi there, @Kfronsee,

 

Joining the thread to share some more information about processing a bonus check without 401K deduction. 

 

If you want to remove the 401K amount on the paycheck, there are a few ways to do it. First, you can edit the amount directly on the paycheck or toggle the employee's profile and update its rate.

 

Option 1: On the paycheck.

 

  1. On the Run Payroll page, click the pencil icon below Total Pay.
  2. Go to the Employee deductions section.
  3. Change the amount for 401K to zero.

Option 2: On the Employees profile.

 

  1. Go to the Workers menu, then select Employees.
  2. Pick the employee's name.
  3. Click the pencil icon in the Pay section. Scroll down on the deductions section (section 5).
  4. Look for the 401K deduction and click the pencil icon beside it.
  5. Change the amount under Employee deduction to 0.
  6. Once done press OK.
  7. Lastly hit Done.

Let me know if you have any more questions about this. I'll be right here to guide you with your payroll processing. Have a nice day!

Kfronsee
Level 1

Need 401k contribution removed from bonus check

Sorry, to clarify, when I said I wanted the 401k contribution removed, I want the 401k amount to be deducted from the bonus check, as our plan requires 401k contributions made for all employee payments including bonues.  When creating a bonus check, there is no option to change the zero contribution amount to include the require amount.

MirriamM
Moderator

Need 401k contribution removed from bonus check

Hello again, Kfronsee. Thanks for clarifying things out. 

 

Bonus and 401K are two separate payroll items. Usually, bonuses are money added on top of an employee's wages, while the latter is a deduction. Thus, when creating a bonus check, you'll need to separate it from a regular paycheck. And add the 401k withholding to the regular paycheck.

 

 Check out below links to learn more about the retirement plans and pay types in QuickBooks Online (QBO):

If you have any more questions or concerns, click the Reply button. Have a safe and productive rest of your week.

View solution in original post

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