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February 26, 2020
Question

How can i set up an invoice to our insurance company for a deductible resulting from an insurance claim?

  • February 26, 2020
  • 1 reply
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1 reply

February 26, 2020

Hello klm69,

 

Welcome to the QuickBooks Online community! Insurance claims are never fun to deal with, but I know how important it is to make sure you've got all the details recorded correctly in your books. I can help you with entering the deductible, which would be a payment to the insurance company.

 

Since the deductible is money paid by you to the insurance company, you'd want to enter it as an expense transaction of some sort in QuickBooks. There are different options to choose from, such as an expense or cheque, which would both be one-step transactions, and bills, which is a two-step transaction. I've got an article here that can help you with choosing which one is best for your situation: What is the difference between bills, cheques, and expenses?

 

If you're not sure which to go with or which categories to be picking, it's best to get in touch with an accountant. QuickBooks can help you connect with an accountant in two ways: by giving you the option to invite someone you're already working with as an accountant user and by giving you the option to find an accountant to work with if you don't have one. Both of these things can be accomplished by going to the My Accountant tab. In the first instance, use the field provided to invite your accountant by email. For the second option, click the Find a pro to help button and begin your search.

 

Wishing you the best with your insurance claim and QuickBooks Online! Stop by again if you need anything else.