401(k) Employer Matching


J

Joanne

It is my understanding that the employee contribution to a 401(k) is SS
taxed, which I've been able to set up correctly. The employer matching is
giving me trouble.

Setting up the payroll item, I've chosen "employer contribution", etc.

When I prepare a paycheck, QBP 2004 incorrectly adds the matching to the
gross and net of the check. It correctly shows the amount in the "Employer
Expense" box (bottom left) of the computation screen.

I don't want the matching to effect the check at all; I only want it to keep
track of the liability as it does on Unemployment Tax.

What am I missing?

--
Sincerely,
Joanne

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J

Jack

Did you use the simple wizard to set this up? If so it is automatically
done correctly. I suggest you go back and edit the item, make sure
there are no check marks on the taxable section at the end.
It is my understanding that the employee contribution to a 401(k) is SS
taxed, which I've been able to set up correctly. The employer matching is
giving me trouble.

Setting up the payroll item, I've chosen "employer contribution", etc.

When I prepare a paycheck, QBP 2004 incorrectly adds the matching to the
gross and net of the check. It correctly shows the amount in the "Employer
Expense" box (bottom left) of the computation screen.

I don't want the matching to effect the check at all; I only want it to keep
track of the liability as it does on Unemployment Tax.

What am I missing?
--
Affordable Support Services ..
No waiting for help.

660-949-2416
Northeastern Missouri
 
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J

Jack

Hope it works for you, should. :)
Now, Jack. Would a control freak use the simple wizard when the perception
of greater control comes with the custom setup? Thanks for the KISS reality
check.
--
Affordable Support Services ..
No waiting for help.

660-949-2416
Northeastern Missouri
 

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