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What expence account should I record my IRA payment?

 
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QuickBooks Team

What expence account should I record my IRA payment?

Hey there, slwsolutionsllc.

 

The default expense account for the company-paid contribution is Payroll Expense. I'd still recommend reaching out to your accountant to make sure your payroll reports are accurate.

 

I'm adding this article for reference: Set up a payroll item for retirement benefits (401(K), Simple IRA, etc.).

 

I'll be around if you have any additional questions or concerns. Thanks.

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