Retirement liability

Thanks for connecting with us here in the Community, tweety80
 

I’m here to address your concern on how to categorize banking transactions in Quickbooks Online.
 

You’ll need to consult your accountant to set up the liability account.
 

Here’s how to categorize in the Banking page:

1. Go to the Transaction menu on the left panel.
2. Go to the Banking tab.
3. Select tile for the bank or credit card account you downloaded the transaction from.

There are two areas to check:

• Start in the For Review tab. This is where QuickBooks puts recently downloaded transactions.
• Next, check the Categorized tab. This tells you what happens to transactions you already categorized
• Finally, check the excluded tab. If you mark a transaction as personal or a duplicate, it goes here. QuickBooks won't add excluded transactions to your accounts.

Here's an article you can read more about:

•  Retirement plan deductions/contributions
• Categorize and match online bank transactions in Quickbooks Online

I’ll be around in the Community if you have questions about Quickbooks. Don’t hesitate to let me know in the comment section.