Refund of excess contribution

SOLVED

There was an contribution paid to a SARSEP on one of the employee that turned out to be in excess of the limit.  A check has been returned to the company for the amount minus 12.54. How do I post this and add it back to the employees salary?  Thanks

Parents
  • 0
    SUGGESTED
    Angella- We have a resolution #19474 How to reverse a deduction that will work for transactions in a current year. However if this is for a prior year, 2015 and you have already closed December, then you are going to be limited on what you can change. I would recommend calling support at 800-447-5700 to speak with an analyst to get the details on this transaction and what you need to correct - for example W2s, etc..
    -Coleen
Reply
  • 0
    SUGGESTED
    Angella- We have a resolution #19474 How to reverse a deduction that will work for transactions in a current year. However if this is for a prior year, 2015 and you have already closed December, then you are going to be limited on what you can change. I would recommend calling support at 800-447-5700 to speak with an analyst to get the details on this transaction and what you need to correct - for example W2s, etc..
    -Coleen
Children