Skip to main content
T
TomR3
March 1, 2023
Question

For a S-Corp the Profit Loss Report double counts Health Insurance Expense

  • March 1, 2023
  • 1 reply
  • 0 views

 

We have 2 employees who are owners and have the additional pay type "S-Corp Owners Health Insurance" on and it's populated with our monthly health insurance premium for our monthly payroll.

 

In the PL report this expense show up under Company Contributions -> Health Insurance as Payroll Check transaction type in the Payroll Expenses:Company Contribution:Health Insurance account.

 

It also shows up  Payroll Expenses -> Wages as Payroll Check transaction type in Payroll Expenses:Wages with the Memo "S-Corp Health Insurance - Company Contribution" account.

 

Why are there 2 entries for the same expense? How can this be fixed?

 

Thanks.

 

 

1 reply

T
TomR3Author
March 3, 2023
This post has been deleted.

 

Thanks for the reply but those 2 accounts are part of QB Online Payroll process. 

 

S-Corp Owners Health Insurance can only be mapped to the Payroll Liabilities sub-accounts.

 

Since the company pays the full premium it shows in Company Contribution Account and I think QB payroll adds it to Wages account because it is taxed as compensation.

 

 

 

T
TomR3Author
March 21, 2023

 

QB Online Payroll - Any thoughts on this?

Terms & ConditionsAccessibility statement