Defining retirement benefits

- As you probably know already, there are several types…of retirement plans, each with its own tax advantages.…Sometimes, employers match employee contributions.…The payroll set up interview can handle…all these situations.…In the interview, over in the company set up section,…click employee benefits and then click retirement benefits.…The add new dialog box opens and you'll see checkboxes…for the different types of retirement benefits…you might offer.…For this example, we're going to add a 401K,…which is the most common plan.…

It even says that right here.…Then click next.…The first thing to fill in is the vendor.…That is, the company that takes care…of your 401K plan for you.…For this example, I'm going to use Great Statewide Bank.…I start to type in the name and…as soon as I see the entire name,…I can click the account number box.…Then type in the account number.…Let's say we're going to use a payment frequency of monthly.…Select that option and then click finish.…

Now you'll notice that the interview adds two items.…