Hi there, Abhishek.
The option to set up Voluntary life under Deduction/contribution is unavailable in QuickBooks Online (QBO). For now, we can only set up deductions under Flexible spending accounts, HSA plans, Health insurance, retirement plans, and Other deductions.
In the meantime, we can set up Voluntary life using the following deduction type. To know which is best suited for deduction tracking purposes, I'd suggest getting in touch with your accountant.
Moreover, you can send feedback to our developers. This way, they can review your request and most likely include them in future enhancements.
- Select Settings and click Feedback.
- Enter your comments or product suggestions. Then, select Next to submit feedback.
Your valuable feedback is forwarded to our Product Development team to enhance your experience in QuickBooks Online. You can track feature requests through the QuickBooks Online Feature Requests website.
In addition, you can run several payroll reports to view useful info about your business and employees in the program.
If you have any further questions regarding setting up deduction items in QuickBooks, feel free to reach out. I'm here to assist you. Have a great day.
