| | How to set up a 401k plan |
| Resolution | - Click Maintain, Payroll, and Payroll Settings.
- If the Payroll Setup wizard hasn't been run before, the option will read “Payroll Setup” instead of Payroll Settings
- Click Benefits, Summary of Benefits.
- Click the Add Another Benefit button.
- In the Add a Benefit window, click Retirement Plans and click OK.
- Click 401K and make a selection for the Who contributes to this plan? Field (Employee, Company or Both).
- Click Next.
- Define the employee and company contributions and click Finish.
- Go to Maintain Employees/Sales Reps.
- Select the employee deducting 401k.
- If the employee will contribute a percentage: Click the Withholding Info tab, and enter the percent amount in the Percentage column
- For a flat amount: Click the Employee Fields tab, uncheck Use Defaults and Calculated, and enter the amount in the Amount column
- Click Save.
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