Hi there, kymm. For self-employed individuals eligible for Employment Insurance (EI), you can track their contributions by setting them up as an employee in QuickBooks. This process also requires an active QuickBooks Payroll subscription to track and manage the funds.
Once they are added, the system automatically handles the deductions so they are correctly included when you file your taxes. I'll add this article for more info: Get started with QuickBooks Online Payroll. For specific guidance on EI calculations or complex tax scenarios, I recommend consulting a tax professional. Their expertise is essential to ensure you remain compliant with the latest tax regulations.
Please leave a comment below if you have any additional questions.
