How to set up direct deposits for Traditional IRA/ROTH IRA for an employee? I don't see the option for Traditional/ROTH IRA under "Add Deduction" --> "Retirement Plans"?

An employee would like us to send part of every paycheck into his Fidelity Traditional IRA or ROTH IRA account. I'm running into 2 issues

  1. I cannot find an option specific to Traditional IRA or ROTH IRA
  2. I set it up as a SIMPLE IRA deduction (which I now know was wrong). And every payment (paycheck and otherwise) had the flat number deducted from the total amount. Ideally, I want it to only send contributions to the Traditional/ROTH IRA from paychecks, and not from other payments such as bonuses. How do I work around this?

Thank you!


Hi stevenc,

You can set up a payroll item for your employees retirement benefits in QuickBooks Desktop. Let me guide you how.
  1. Click Lists menu.
  2. Select Payroll Item List.
  3. Click Payroll Item drop-down arrow, and click New.
  4. Select EZ Setup and click Next.
  5. Select Retirement Benefits, click Next.
  6. Follow the onscreen instructions.
However, I recommend reaching out to your accountant to check what specific tax tracking type to use. 

Here's an article for more information about retirement plans in QuickBooks Desktop: Set Up A Payroll For Retirement Benefits.

You can also check this article if you want to enroll your employee through direct deposit. Pay Bills For Vendors Through Direct Deposit.

I've got these articles if you have more questions about payroll: QuickBooks Desktop Payroll Help Articles.

Please leave a comment if you have further question. I'll be right here to assist.
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