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How to record employer contribution to Solo 401K?

lukaszlukasz Member Posts: 1

Hi, I'm planning to open Solo 401K. How will I record employer's contribution (up to 25% of salary). I see where I can add employee pre-tax deduction for 401k but I can't find a way to record and do it correctly for employer's portion.

in Accounting Technical Support

Comments

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    Hi @lukasz.

    Wave doesn't currently support employers matching their employees' contributions to their 401Ks. You would have to account for it manually through journal entries on the Transactions page. Because of the sensitive nature of retirement plans, I would recommend consulting with an accountant on this subject.

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