<< Click to Display Table of Contents >> Navigation:  Payroll > Master File Maint Payroll > Basic Options > Detail  Codes Tab > 401K Plan

A retirement plan that allows qualified employees to contribute money from their paychecks into a tax-sheltered account.

 

1. Set up 401K plan.

 

2. Set up Deduction and Company match details for 401K.  

 

3.  Designate how Earnings and deduction detail effect 401K.

 

4.  Add the Deduction and Company cost detail to applicable employees.

 

5.  After running a payroll cycle, print a 401K Deduction Report to show the employee and company match portions.