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MissionElectric
Level 1

Setup 401K Accounts in Quickbooks Online (Using Gusto & Vestwell)

Hello, I am using Quickbooks Online; Integrated with Gusto for Payroll.

We are setting up a Employer & Employee 401K Plans Through Vestwell directly integrated into Gusto.

I am looking for help categorizing these 401K Transactions once they post in Quickbooks Online.

 

Gusto/Vestwell has the Following Payroll 401K Categories:

#1: Employer Benefit Expenses For Pre-Tax 401k

#2: Benefit Liabilities For Pre-Tax 401k

#3: Employer Benefit Expenses For Roth 401k

#4: Benefit Liabilities For Roth 401k

 

What Accounts Should I Create in Quickbooks Online to Match these Transactions to?

2 Comments 2
Candice C
QuickBooks Team

Setup 401K Accounts in Quickbooks Online (Using Gusto & Vestwell)

Good morning, @MissionElectric

 

Welcome to the Community! I'm so glad you decided to reach out to us with your question about setting up 401K accounts in your QuickBooks Online account. 

 

To be sure of which accounts you should create in QuickBooks to match these transactions, I recommend consulting with your accountant. They'll be able to give you the best accounting advice based on how you run your business. 

 

If you decide to use our QuickBooks Online Payroll to enter this information in the future, here's a guide that could help you out: Set up a retirement plan

 

Please, reach back out if you need any more assistance. We're always here to lend a helping hand. Take care! 

Michael Teper
Level 1

Setup 401K Accounts in Quickbooks Online (Using Gusto & Vestwell)

If you got these set up, would you mind sharing what accounts you ended up with?

 

Thanks!

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