My retirement contributions are based on a percentage of base pay only - no overtime or other pays can be used in the calculation. When I set up the retirement deduction in QB, it seems to automatically take a % of Gross Pay or Net Pay. It is not letting me exclude overtime or other pays. Can this be done in QB? If so how?
This doesn’t answer my problem. To be clearer. My pension plan contribution is 9.5% of base pay only. QB is applying the 9.5% to Gross Pay which includes overtime and additional pay from a grant. How do I exclude those other pays from the calculation? I don’t see any way in the set up of the contribution rate to exclude certain pays.
I have some clarification to provide regarding your question on excluding the overtime and additional pay when calculating your pension plan contribution. You can calculate this item based on quantity instead of Net or Gross.
Just edit the payroll item created. Here's how:
Go to Lists and select Payroll Item List.
Locate and double-click the Pension Plan to open the Edit payroll item window.
Click Next until you reach the Calculate based on quantity screen.
Select Calculate this item based on quantity.
Tap Next, then Finish.
Doing this will exclude those other pays from the calculation on your next payroll run.