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Buy nowI appreciate you chiming in here in the thread, @Markh12. I want to ensure that your Simple IRA contribution calculates accurately inside QuickBooks Desktop (QBDT).
Adding a Simple IRA to an employee's profile is a crucial task. Thus, setting the correct amount and limit is important so the system can recognize it when you run payroll for your workers. You'll want to review the employee's profile and ensure they are on point.
Please know that the program processes payroll calculations based on the order of payroll items in an employee's profile. Thus, we need to enter the other pay types first item before the Simple IRA item as this can affect how the deduction is calculated from the gross income. Here’s how you can enter these items:
For visual reference, see the screenshot below.
Once done, run the payroll to verify if the Simple IRA shows and if the calculation is on point. In case the issue persists, you can contact our Customer Care Team so they can help you navigate through this. See this page for more details: Get help with QuickBooks products and services.
On the other hand, I recommend checking this article to learn more about employee contribution limits: Set up or change a retirement plan.
I'll be on the lookout for any replies from you. By doing so, I can assist you effectively and ensure that the Simple IRA reflects accurate calculations. Take care.