QB Issue Resolution:
When setting up a deduction for a Retirement plan, the plan you select will automatically set up a company contribution item to be used if needed. Note: After-tax Roth 401(k) and 403(b) are not available as company contributions through our service because the entire contribution should be paid and reported separately through the provider, and not through the same account as the employee after-tax deduction funds.
Here are the steps to set up a retirement plan deduction:
- Select the Gear icon at the top > Payroll Settings.
- Under Payroll, select Deductions / Contributions.
- Click Add a New Deduction/Contribution.
- For Category, select Retirement Plans.
- For Type, select the applicable retirement plan.
- Enter the name of the provider or plan.
- Click OK.
For more information on retirement plans, click here.
Resolution for Issue 'Recording a SEP IRA contribution in QBs' available: Yes (Solved).
Source: Intuit Community forum.
Recording a SEP IRA contribution in QBs: 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.Support for Payroll Settings
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