QB Issue Resolution:

That should be coming from your payroll, if you need it to be part of W2 reporting.

The payment you make is Debit to Employee Liability, since you withheld from them. The Employer share would be Debit Expense or Debit Liability, depending on if you already accrued the expense.

Resolution for Issue 'Our Simple IRA contribution journal entry shows as a credit to the checking account and split entry debit to the IRA and employer match accounts. Is this correct?' available: Yes (Solved).
Source: Intuit Community forum.

Our Simple IRA contribution journal entry shows as a credit to the checking account and split entry debit to the IRA and employer match accounts. Is this correct?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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