Hello there,
I am here to share some steps to correct your excess salary deferral and excess employee contribution to 401k.
To correct the excess salary deferral, I suggest contacting our Customer Support team. They have the tools to do adjustment to correct it.
Regarding the excess employee contribution to the 401k, you can initiate a reimbursement payment so the amount will be included in your upcoming paycheck.
Here's how:
- Go to Payroll, then Employees.
- Select your employee.
- From Pay types, select Start or Edit.
- Scroll to the Additional pay types section and select Reimbursement.
- If there's an existing reimbursement pay type, you can add a new one in the Common pay types section dropdown. Just select + Another Reimbursement type to add new.
- You can add the default amount or leave it blank, and just enter the amount as you run payroll.
- You can also rename this pay type. To rename, select Edit next to Reimbursement.
5. When you’re finished, select Save.
Additionally, I'm adding this helpful article as your reference in entering your employee's year-to-date paycheck info, and company totals: Add pay history to QuickBooks Online Payroll.
Come back to this post if you have other concerns and follow-up questions about the excess employee contribution and excess salary deferral in QBO.
