Hello,

Our company is staring a new Group RRSP plan. Most employees will contribute 3% of earrings, and the employer will match that. I am wondering what the steps are to set this up? I realize I need a new payable account for the Employee contribution, and a new expense account for the Employer portion. I have also figured out where to create the new payroll deduction., but how do I have the 3% Employee contribution go to the new payable account once deducted from their pay chq? And for the Employer portion, can I have that automatically calculated at the same time? Or will a manual calculation and create a journal entry to record the employer contribution be necessary? 

Thank you,

Michelle