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January 6, 2022
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i need to set up PRE-TAX AFLAC 100% PAID BY EMPLOYEE deductions for life insurance in quickbooks online

  • January 6, 2022
  • 1 reply
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i need to set up PRE-TAX AFLAC 100% PAID BY EMPLOYEE deductions for life insurance

Best answer by LeizylM

Thank you for posting here on the Community page, AS00. 

 

I'm here to make sure you'll be able to set up PRE-TAX AFLAC 100% paid by Employee deductions for life insurance. 

 

Payroll deductions can be used for any type of employee medical insurance, such as Aflac. Let me guide you with setting it up:

 

  1. Go to Workers at the left menu and click Employees.
  2. Select the name of the employee and click on the Edit icon for Pay.
  3. Click on the Add a new deduction link.
  4. Select the drop-down menu for Deduction/contribution.
  5. ClickHealth Insurance and choose Medical Insurance as the type. 
  6. Enter the name of the provider (Aflac).
  7. Enter the amount to be deducted every pay period and Annual Maximum (optional).
  8. Choose between paying a Taxable insurance premium and paying a Pre-tax insurance premium.
  9. Click on OK.

 

For this medical insurance, QuickBooks Online will automatically create a liability account. Go to Payroll Settings, then Accounting under Preferences to review the account configuration.

 

You can create a Check when you're going to pay this medical fee. For this medical insurance, simply select the liability account. You can also use a journal entry to debit funds from the liability account and deposit them into any clearing account you've set up.

 

Check out the Pretax health insurance section of this article for more details about the supported pretax health insurance: Add or change pay types.

 

Please let me know if you need more help with managing your payroll taxes or anything else related to QuickBooks. I'll be here to help you. Take care and have a great day.

1 reply

LeizylMAnswer
January 6, 2022

Thank you for posting here on the Community page, AS00. 

 

I'm here to make sure you'll be able to set up PRE-TAX AFLAC 100% paid by Employee deductions for life insurance. 

 

Payroll deductions can be used for any type of employee medical insurance, such as Aflac. Let me guide you with setting it up:

 

  1. Go to Workers at the left menu and click Employees.
  2. Select the name of the employee and click on the Edit icon for Pay.
  3. Click on the Add a new deduction link.
  4. Select the drop-down menu for Deduction/contribution.
  5. ClickHealth Insurance and choose Medical Insurance as the type. 
  6. Enter the name of the provider (Aflac).
  7. Enter the amount to be deducted every pay period and Annual Maximum (optional).
  8. Choose between paying a Taxable insurance premium and paying a Pre-tax insurance premium.
  9. Click on OK.

 

For this medical insurance, QuickBooks Online will automatically create a liability account. Go to Payroll Settings, then Accounting under Preferences to review the account configuration.

 

You can create a Check when you're going to pay this medical fee. For this medical insurance, simply select the liability account. You can also use a journal entry to debit funds from the liability account and deposit them into any clearing account you've set up.

 

Check out the Pretax health insurance section of this article for more details about the supported pretax health insurance: Add or change pay types.

 

Please let me know if you need more help with managing your payroll taxes or anything else related to QuickBooks. I'll be here to help you. Take care and have a great day.

AS00Author
January 6, 2022

That seems to have worked.  I also have after-tax deductions for Aflac.  Do i also  set the deduction as health insurance, medical and just choose taxable premium?

January 6, 2022

Thanks for getting back to us, @AS00.

 

To get everything’s correct, I recommend contacting your insurance provider. They can provide you information on what to set for Aflac after-tax deductions.

 

In case you need to add or update your employees’ deductions and contributions in the program, you can use this article for complete instructions: Add or edit a deduction or contribution

 

I also have here a list of resources that can help manage your payroll: Popular Payroll questions with solutions.

 

If you have any other payroll questions or concerns, please don’t hesitate to visit Community. We’re always here to assist you.