Investing
To do this task, please follow these steps:
- Go to Lists and choose Payroll Item List.
- Click on the Payroll Item drop down and select New.
- Choose Custom Setup (allows editing of all settings; recommended for expert users) and click on Next.
- Choose Deduction if this item will be used for employee contribution, enter a name, and select the name of the agency to which liability is paid. Then, choose 408(k)(6) SEP in the Tax tracking type window.
- Choose Company Contribution if this item will be used for company, enter a name, select the name of the agency to which liability is paid. Then, choose 408(k)(6) Co. Match in the Tax tracking type window.
- Select your option in the Calculate based on quantity window and click on Next.
- Set your default rate and limit and click on Finish.
I've attached some screenshots below to help you with the process.
Regards,
Adrian
Consultant
