Insurance Premiums

I'm here to help you track the deduction as income, Simple Bookkeeping.

To do this, let's add another line in the check or bill transactions. Then, select the income account and enter the amount as negative.

I'd suggest following these steps if you'd like to create a check.

1. Go to the + New menu.
2. Select Check.
3. Choose the payee.
4. Under Category details, enter the details of insurance on the first line.
5. On the second line, select the income account, then enter the amount as negative.
6. Once done, click on Save and close.

If you'd like to create a bill, you can follow these steps:

1. From the + New menu, select Bill.
2. Choose the payee.
3. Under Category details, enter the details of insurance on the first line.
4. On the second line, select the income account, then enter the amount as negative.
5. Once done, click on Save and close.

For further guidance, please see this article:  Manage Expenses in QuickBooks Online.

I've also added this article that'll help your client run vendor reports. This will help see the vendor their payments: 1099 Report.

In case you'll need assistance in managing QuickBooks transactions, please reach out to us. We're always here to help you out.