Formual for standard deduction

[currituckabc]

I need a formula for a strandard deduction for employ_EE retirement. The amount is to be 6% of the gross pay.
RET_EE is the field.
PERCENT=6.00
ANSWER=-GROSS*PERCENT%
Produces an error message and no results. Cannot Find RET_EE 02 married calculation.
I can't figure put how to write the formula. I believe it should be in the company tax tables, but I get the error message and it doesn.t compute. Can anyone help me.
David

[dringstrom]

The Peachtree manual does a good job of explaining how to set up the retirement code. Also, if you're using version 8 or later, there's a payroll wizard that can also establish this for you.

[currituckabc]

I did RTFM. That and the payroll wizard focus on and set up 401K deductions. I 'm no accountant, so I'm not sure of the difference between a 401K and just a regular state retirement deduction. Anyway, I still sould use the formula for a standard comapny deduction of 6% of teh gross.

[dringstrom]

For your purposes, the 401K methodology will work fine. Just instruct Peachtree that there's not a match (unless there is one), and assign 6% as the withholding amount.