Report for Simple IRA weekly payment

SOLVED

I am trying to figure out how to run a report (like a tax liability report) for our Simple IRA.  In Quickbooks, there was a report that I could run to know how much Employee/Company contributions to pay each week.  I cannot find one in Sage 50.  Any help would be greatly appreciated!!  Currently, I have to manually add these amounts, but that will get tedious after a whlie!

Jim

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  • 0

    Jim, one option is to run ledger report on liability account collecting/receiving these amounts.  Then export report to Excel and edit as you wish.

  • 0 in reply to lalmengor

    Found in another article, I do need to have separate GL accounts for employee and employer contributions to Simple IRA.  Thanks for the help!!

  • +1 in reply to JimHeintz
    verified answer

    Yes I agree, you should have a separate liability for the simple IRA withholdings & company match.  I use one for both, same as you should have separate withholding account for federal withholdings, state withholdings, state unemployment payable & federal unemployment payable.  I've seen some quickbook ledgers where they seem to want to consolidate all that or most of it into one and personally I believe that is a mistake if you want to easily monitor if you are getting the payroll taxes paid in correctly and on time.  Same principal applies to Simple IRA.  

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  • +1 in reply to JimHeintz
    verified answer

    Yes I agree, you should have a separate liability for the simple IRA withholdings & company match.  I use one for both, same as you should have separate withholding account for federal withholdings, state withholdings, state unemployment payable & federal unemployment payable.  I've seen some quickbook ledgers where they seem to want to consolidate all that or most of it into one and personally I believe that is a mistake if you want to easily monitor if you are getting the payroll taxes paid in correctly and on time.  Same principal applies to Simple IRA.  

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