Which report would you use to verify employee and employer match contributions for qualified accounts?

Which report would you use to verify employee and employer match contributions for qualified accounts?

• A. Cash Flow Summary
• B. Income Detail
• C. Withdrawals Report
• D. Savings Report

Answer: (D)

To verify employee and employer match contributions for qualified accounts, you need a report that specifically tracks savings activity and the sources of those contributions. The Savings Report is designed to display contributions and balances for savings vehicles, including retirement accounts, and often breaks down how much comes from the employee versus how much comes from the employer as a match. This makes it the most suitable option for confirming the amounts contributed to qualified accounts over a given period. Other reports focus on different aspects of finances—Cash Flow Summary covers overall money movement, Income Detail shows earnings, and Withdrawals Report lists distributions. They don’t provide the targeted view of contributions and matches to savings or retirement accounts, so they aren’t as effective for verifying those specific contributions.

To verify employee and employer match contributions for qualified accounts, you need a report that specifically tracks savings activity and the sources of those contributions. The Savings Report is designed to display contributions and balances for savings vehicles, including retirement accounts, and often breaks down how much comes from the employee versus how much comes from the employer as a match. This makes it the most suitable option for confirming the amounts contributed to qualified accounts over a given period.

Other reports focus on different aspects of finances—Cash Flow Summary covers overall money movement, Income Detail shows earnings, and Withdrawals Report lists distributions. They don’t provide the targeted view of contributions and matches to savings or retirement accounts, so they aren’t as effective for verifying those specific contributions.