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Level 2

Simple IRA Employer Contribution

We set up a simple IRA for our employees. Just want to confirm...can I record the employer match as a payroll expense? I don't use QBO for payroll, so a lot of the discussions I saw on the Community were quite irrelevant.

1 Comment
QuickBooks Team

Simple IRA Employer Contribution

Hello, sc-myralai. 


Thank you for reaching out to the Community. Yes, you can use Payroll expenses in the Company Contribution: Retirement. Also, you can add another account for the company contribution as sub-account in the Payroll Expense (Parent account).




Though, I still suggest to consult with an accountant for the accuracy of your books. 


Here's an article for the set up of payroll item and the retirement contributions in QuickBooks: Retirement plan deductions/ contributions.


In case you will need one, check out the links below for some QuickBooks Online video and Payroll article tutorials: 



Please let me know in the comment section if you need additional help. I'm here to lend a hand. Keep safe always.

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