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firsttier21
Level 3

tip income is still not included in retirement calculations for QuickBooks Online

I know this issue was reported several years and it appears that QBO still does not calculate 401k and IRA match on any tip income.  My clients need to manually calculate the correct match amount each pay period and manually update it when running payroll.  When is this issue going to be addressed and fixed?  Thanks, Tracey

2 Comments 2
Irene R
QuickBooks Team

tip income is still not included in retirement calculations for QuickBooks Online

Thank you for posting your concern here in the Community, @firsttier21.

 

I acknowledge the importance of QuickBooks Online (QBO) in calculating the match for your 401k and IRA on any tip income for your business. As we evaluate this feature to enhance our product, I suggest sharing this feedback directly with our product engineers. They'll review the possibility of adding this option to our future product enhancements.

 

To submit feedback:

 

  1. Click the Gear icon at the top, then Feedback.
  2. Indicate your comments or suggestions.
  3. Then select Next to submit feedback.

 

To stay updated on the status of your product request and get the latest news from our developers, you can visit our Customer Feedback page. You'll be able to track the progress of your request and learn more about recent enhancements made to QBO that can benefit business owners like you.

 

Additionally, here’s an article about setting up a deduction from your pension or company contribution in QBO Payroll that you can read: Set up or change a retirement plan.

 

If you have any questions about calculating retirement plans in QBO, let me know by commenting below. I'm always here to help. 

firsttier21
Level 3

tip income is still not included in retirement calculations for QuickBooks Online

Hello Irene,

 

This has been submitted several times through the option for feedback for product enhancements without any response from the engineering or product development team.  It is disappointing that QBO cannot accommodate basic payroll requirements, considering the volume of people using QBO payroll and their position as an alternative to ADP and other payroll service providers.  I know other services, such as ADP, are capable of doing this, so it puts QBO at a disadvantage if you cannot compete with other payroll providers by providing the necessary features.  If QB desktop is able to do it, then QBO should be able to also.  It shouldn't have to be requested (over and over) as a product enhancement.

 

Tracey

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