To enable your employees to contribute a lump sum at the end of the year, you must create a 401K deduction code, create a special payroll, and create a manual check.


In this article, you will learn:


How to create a 401K deduction code and special payroll

  1. If you don't have one already, create a 401K deduction code.

    Go to the SETUP tab > Payroll > Deductions. For more information, see How to Create Deduction Codes.

  2. Create a special payroll.

    1. Click the PAYROLL tab.

    2. Click Special Payroll.

    3. In the Add a Special Payroll pop-up window, enter a Check Date.

      Important! When completing the date fields in this window, make sure to enter the year you want the 401K deduction to be applied toward.

    4. Enter a Run Number (other than 0).

      The number cannot be the same number as an existing payroll run, and it cannot be 0.

    5. Enter the Period Begin and Period End dates.

    6. Enter the Schedule Date for the check.

    7. (Optional) Complete the other fields as needed.

    8. Click Save.

      You are automatically brought into Step 4, Payroll Entry, which is empty. You will not continue this payroll just yet.

    9. Click the PAYROLL tab again.

For more information, see How to Run a Special Payroll.


How to create a manual check

  1. Back on the Payroll Dashboard, click Manual Checks.

  2. Make sure the payroll date is set to the special payroll date you selected in the previous procedure.

  3. Click Add.

  4. Select the employee, and click Continue.

  5. In the pop-up window, complete the fields.

    1. Turn on the Block toggles for Scheduled Earnings, Scheduled Deductions, and Employee Taxes.

    2. Turn on the Gross Up Calculation toggle.

  6. Click Add, and enter an earning code and the amount the employee wants to contribute toward their 401K (for example, $10000).

    You can select any earning code. For example, you might select BO - Bonus.

  7. Click Calculate.

  8. After getting the result, click the Deductions tab, and enter the deduction for the amount the employee wants to contribute.

  9. Click Save.

    The net pay will be $0.

For more information, see How to Process a Manual Check.


How to resume the payroll run

  1. Click the PAYROLL tab.

  2. In the top-right corner, verify that the date and payroll run you selected for the manual check appears correctly. If it is not correct, select the correct one.

  3. Click Resume Payroll, and click Resume in the pop-up window.

    The the Payroll Entry page will be empty.

  4. Click Next.

    On the Preview Payroll page, you will see the 401K deduction you created.

  5. Complete the payroll run.


Thank you for using Fingercheck. If you have any questions on this article's topic, you can reach out to our team at 1-800-610-9501, or use the chat option below.

Did this answer your question?