how to set up the employer contribution for 401k or simple IRA

Forum|Forum|3 years ago
September 13, 2022
1 reply
10 views

In my attempts to calculate the employer contribution percentage, the system calculates the percentage on the employee's deduction amount and not the employee's gross pay for the period. For example, if the employee's Gross pay is $500 and their deduction percentage is 3 %, their deduction is 15. If the company matches 3%, the system calculates $.45 ($15 x 3%) instead of ($500 x 3%). How do I set this up so that the employer match

EasyACCT

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Best answer by JRC

Which is why it doesn't work for us.

Program is based on Employees contribution amount only and not Gross Wages for the Employer Contribution.

JRC

Level 7

I found no way of having EasyAcct calculate the Employer's contribution. We ended up using a Spread sheet and manually entering the Monthly payroll information to calculate the Company's contribution amount.

T

The1CPAAuthor

Level 3

Did you find that it calculates the percentage of the employee's deduction and not a percentage of gross pay?

JRCAnswer

Level 7

Which is why it doesn't work for us.

Program is based on Employees contribution amount only and not Gross Wages for the Employer Contribution.

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