With the help of using the QuickBooks Payroll 401k, you can easily submit your workers’ sums when the payroll is running. It is not important for you to sign in to the QB payroll 401k support gateway and then do the re-submitting or uploading the payroll and reports of census manually. When you run the payroll then every representative of the 401(k) contribution, census details, and payroll data gets automated with one click. You can contact the QuickBooks technical support team for any help or guidance.

This recently added feature or element can be used by the QB standard/basic/enhanced and users of the assisted payroll. Your company or business needs to have the Intuit 401(k) plan. 

Read this article till the end to understand the step by step procedure for entering the payroll in the system via using a third-party payroll service in the QB.

What Is The Process For Recording The 401k Employer Contribution In The QB

Following are some of the possible situations for entering the payroll in the QB:

  • Some users choose to resubmit the whole payroll in the employee center. Whereas other users require to save time by submitting it as a journal category and don’t know about submitting it properly.
  • The issue which you will face is that the total deducted amount from your financial records for the payroll will not arrange it for your whole paid amount.
  • In case you are dealing with your expenses of payroll then the total amount which you will pay to your payroll provider will be less in comparison to your compensation cost of workers deductions.
  • The amount paid will be higher or more in case your service deals with the payroll taxes of yours.
  • It is better to understand the difference between the gross and the net payroll before entering the payroll. The sum amount that you are paying to your specialist prior to deduction is called the NET payroll.
  • These are the combination of the payroll charges and the liabilities which need to be paid early or late on components like government or the expenses of the state payroll/ responsibilities of 401(k), medical insurance, etc.
  • These elements can not be considered as payroll cost as it is being paid by your representative and not you.
  • You will have to book a worker paid piece to the related payroll commitment or the obligation account every time you are paying your payroll liabilities.
  • For example- when you are paying the FICA expenses, you will book half of the total amount to the payroll risk account of the FICA and the remaining half to the payroll tax charges

The Deduction Settings Of The QB 401k 

In order to set up the QB Payroll 401(k) deduction codes under the QB, you will have to perform the given steps:

  • Sign in to your QB account
  • Navigate to the employees’ field
  • Tap on the employee or worker that has been registered in QB payroll 401 (k)
  • Tap on the edit
  • Then locate the lines such as “Does <worker/employee> has any deductions?”, then tap on the add new deduction field.
  • Go down to the category menu and tap on the “retirement plans” option
  • Then tap on the “401(k) catch-up” or on the 401(k)”, any of them “after-tax Roth 401(k)” in the type menu.
  • In the given field, type: 
    • “401k” if the Type is such as “401(k)”
    • “401k CU” if the Type such as “401(k) Catchup”
    • “Roth” if the Type is such as “After-tax Roth 401(k)”
  • Tap on OK
  • Now the deduction will be available for every representative on the record.

Get Help From QuickBooks Tech Support Department

We hope that by following the given steps you have been able to resolve your concern issue related to QuickBooks payroll 401(k). However, if you are facing any kind of difficulty or confusion while performing the steps then you can connect with the QuickBooks tech support team for any additional help. You can contact the team at Supportforerror.com or dial the toll-free no. 1800-366-1468 and save your energy and time by consulting the experts directly.