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January 14, 2025
Question

Setting up a Matching DPSP in payroll

  • January 14, 2025
  • 1 reply
  • 1 view

We are new to Quickbooks and I need to set up our company matching deferred profit sharing plan in payroll and need some guidance

1 reply

Level 6
January 14, 2025

Hi there,

 

Welcome to the Community. I'll be glad to share more info so you're on the right track with recording your transactions. 

 

It's important to note Entries for Box 50 - RPP or DPSP registration number and Box 52 - Pension adjustment are not supported in QuickBooks Online Payroll. If you need to add these to your employee’s T4, you will need to manually fill out and submit the T4 or use software such as ProTax (FX) or ProFile FX to create and file the T4s.

 

Feel free to check out these helpful  tutorials/webinars that you can reference in order to cut the learning curve for QBO. 

 

Let me know if this info helps. I'll be a message away.