Employee paying less retirement contribution than entered.

SOLVED

I only have this error on one employee. Our retirement plan match's up to 3% of gross pay. We have several employees that only match up to that 3% limit. For some reason it calculates this  one employee's contribution at 2.94%. The employer contribution dose equal 3%. I have gone thru the employee settings and compared them to other similar employees but I can not find the error.

Example

What it shows What is should be
Gross Pay $800.00 $800.00
401k employee $23.52 $24.00
401k employer $24.00 $24.00
  • 0
    SUGGESTED

    Maybe you can call sage support and they can remote in with you and look at what you have.   It is probably something really simple.

  • +1
    verified answer

    Go to Maintain Employees and bring up that employee. Go to the Employee Fields tab and find the line for the 401k deduction. Is the "Use Defaults" box checked? If it is not checked, click the Adjust button on the 401k line and make sure that Gross is the only line that has a check in the Use column.

    If the "Use Defaults" box was checked, go to the Maintain menu > Default Information > Employees, then go to the Employee Fields tab and do the same thing there.

  • 0 in reply to StephenC

    Thank you this did it. The "using defaults" was checked. But it looks like someone had checked pretax and mileage. This corrected the 401k contribution to the correct amount. But it also changed the fed income tax line withheld. It went down a few cents. So I guess each employees was having more withheld than they should. An I was mistaken this actually affected more people than I thought.  I'm a bit embarrassed that I did not catch this sooner. But looking at past paychecks this has been happening way before my time. I guess I should tell the boss and see if we need to talk to the accountant.