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January 10, 2022
Question

Health insurance premiums are covered through payroll deduction for half and the Company pays the other half. Quickbooks is posting both halves to the same liability ?

  • January 10, 2022
  • 1 reply
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How do I clear out the liability account and still post half to an expense account.?

1 reply

January 10, 2022

Thank you for visiting us here in Community, @doris-branch.

 

I'll show you how to add them, assign them, and remove them.

 
QuickBooks Online Payroll establishes default accounts for you to record your payroll liabilities and costs. If you'd rather record it in a different register or account, you may do so in your QuickBooks Online by creating a new one.

 
To match your accounting needs, you can personalize how you track your payroll wages, taxes, deductions, and business contributions in your chart of accounts.

 
Here's add or change a payroll account, follow the procedures below. Skip to step 3 if you already have the account you want to use.

 

  1. Navigate to Settings ⚙, then Chart of accounts.
  2. Select New to add a new one. Alternatively, you can search for the account you wish to change and then choose Edit from the View register.
  3. From the Account Type ▼ dropdown, choose Expenses or Other Current Liabilities.
  4. Choose a Detail type based on the account type you specified.
  5. In the Name area, you can add or change the account name.

 
You can utilize this following account type for Expense or Other Expenses, see article for your reference. 
 
I also suggest to contact your accountant. They are the ones who can guide you the exact accounts for on your employees’ deduction and contribution.


December and January are crucial months for any company. There are various things you need to accomplish, whether it's filing your taxes or sending out W-2s to your employees. I got you this article for the year end checklist for QuickBooks Online Payroll.  
 
Just let me know if you have other concerns about deduction and contributions in QBO. I’ll be around to give you information.