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Setting up a 401(k) Roth company match setup isn't possible in QuickBooks Desktop (QBDT), @MAG MN. Let me elaborate on it in detail.
When setting up a company matching contribution, QBDT offers various tax tracking types, excluding the Roth 401(k). Refer to the screenshot below to view the available Co. Match types.
As a workaround, we can manually enter the percentage on both the employee and employer items. This is after calculating the employer contribution based on the employee's contribution percentage.
It's always best to seek advice from an accountant before doing this action and to know what tax tracking type is accurate for your case. This is to ensure compliance with tax and financial regulations.
If you're not affiliated with one, you can find a professional through this link: Find a ProAdvisor.
To know more about other supported retirement plans in QuickBooks, consider checking out this article: Set up a retirement plan. It also includes steps on how to manage and edit them.
Additionally, you may visit this article to learn how to keep track of employees' expenses and manage payroll using payroll reports. Check out this link for your guide: Customize Payroll and Employee Reports.
I'm all ears if you have additional questions about managing your payroll in QuickBooks. Just leave a reply below and I'll provide further help.
I don't want to modify anything, I want to add the option for one of my employees to have the company match be a Roth, I want to make sure the tax portion of our Roth match is paid by the employee since it will be a post tax company contribution
I appreciate your follow-up, @MAG MN.
Please know that I've updated my response above to address your main concern.
Setting up a 401(k) Roth company match setup in QuickBooks Desktop (QBDT) isn't possible. To work around this, we can manually enter the percentage on both the employee and employer items. You can refer to my response above for more information.
For future reference, you can generate reports in QuickBooks Desktop to help you gain valuable insights about your financial performance.
The Community team is always available if you have more questions in mind or need additional assistance managing your payroll in QuickBooks. Just click the reply button below and we'd be happy to help.
You should be checking with your retirement plan administrator to see if they are set up to do this yet. Never change payroll without talking to the people running the plan to ensure their systems are equipped to handle this. Many are not prepared because they were waiting on final IRS guidance on the issues around this new money type.
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