I am trying to setup a percentage of gross deduction for traditional 401K and also Roth 401K, I created the two deductions and created the liability account they will be paid out of but nothing is calculating... Can I only do this off specific dollar amounts and not percentages? help!
If you set up the payroll item as a deduction and also set this up as a 401(k) type, you need to add the deduction to the employee template prior to running payroll. Each employee should have the individual election entered in as a percent using the percent sign.
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