Hello there, readytoretire.
We appreciate you for coming back to add clarification about your concern regarding setting up the deferral and match in QuickBooks Desktop. Let me provide steps on how you can achieve your goal within the program.
To start with, please know that setting up the deferral and match to calculate based on the adjusted gross income is currently unavailable. QuickBooks calculates the Additions, Deductions, and Company Contributions based on the taxable income or total gross pay.
For now, you have to leave the Default Rate and Limit fields blank when setting up the item. Then, I recommend manually entering the desired deferral/match rate and limit on the employee's profile.
Here's how:
- Go to the Employees menu at the top, and then select Employee Center.
- Select your employee.
- Choose Payroll Info and add the retirement plan items in the Additions, Deductions, and Company Contributions section.
- Enter the amount per period and the limits.
- Click OK, when you're done.
In case you need steps on how you can create a report to quickly view your payroll totals, including employee taxes and contributions, you can read this article: Create a payroll summary report in QuickBooks.
Always remember that our doors are always open for whatever assistance you need. Post a reply below. Take care, readytoretire.
