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sheppan
September 5, 2023
Question

Employer paid health insurance

  • September 5, 2023
  • 1 reply
  • 0 views

I need some help, please.  How do I set up in QBO employer-paid health insurance? How do I reconcile it every month?

I have one employee for whom the company pays their full insurance but the employee has to pay for their dependent.

I have an account that says Medical in the GL and the deductions show there as well as the invoice, but it never balances out and my employer does not want to see any negatives.

 

If an employee was not deducted for the medical/AFLAC and was taken later out of the next pay period, how do I do a JE to show that the employee did pay the month that was missed so my books will balance out?

I hope I did not confuse you.

 

Rae

 

1 reply

A
Archie_B
September 5, 2023

Hi there, sheppan.

 

Let me share some information about setting up health insurance in QuickBooks Online Payroll.

 

If your company offers insurance benefits, you may need to create items in QuickBooks to track them. But before you proceed, you'll determine which health benefits to set up:

 

 

Once you figure out which health insurance to set up, you can follow the detailed steps outlined in this article: Set up and manage payroll items for your insurance benefit plan.

 

You can also run payroll reports to assist you in reconciling your employees' deductions and the company's contributions.

 

In addition, I recommend consulting with an accountant to assist you in creating a journal entry that shows employee deductions for medical benefits.

 

Feel free to reach us again for any follow-up questions or other payroll-related concerns. I'll be around if you need me. Keep safe!

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