How can I record an employer 401K contribution within GP Payroll for inactive/terminated employees?

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Posted on by PattiK323

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We have some employees who have terminated their employment with us (for example, retirement). But, we owe them a 401K employer contribution per company policy. While there is no physical payment that is due to these employees (we are simply making a 3% contribution to their 401K account), we would like this to be recorded via Payroll so that it appears correctly on the reports that we run for 401K reporting, etc., and also shows as a benefit received by them.

Is there a way to do this?

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Microsoft Dynamics GP

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Terry R Heley Microsoft Employee on at

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Hi Patti,

You can do this through a manual check to just "update" the benefit side of the 401K. You will need to mark the employee active again, go to manual checks and enter the amount you want to update the record by and post. Then you can inactivate the employee again.

Here is our payroll documentation and you can go down to manual checks if you are not familiar with the process.

Dynamics GP U.S. Payroll - Dynamics GP | Microsoft Docs

Thanks

Terry Heley
Microsoft

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