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carol13
Level 1

Can I specify Employer Health Insurance Contribution as a Monthly amount for semi-monthly payroll? The contribution has odd cents.

Whether I round up or down for the half cent, my payroll liability account will get off slightly.
1 Comment 1
Kristine Mae
Moderator

Can I specify Employer Health Insurance Contribution as a Monthly amount for semi-monthly payroll? The contribution has odd cents.

Good day, Carol13.

 

When you set up the employer health insurance item, you'll have to manually divide the contribution amount. If the payroll liability is slightly off, you can create a journal entry to offset the amount. 

 

Here's how to set it up:

  1. Click Workers, then choose Employees.
  2. Choose the employee, then click to open the profile.
  3. Click the Pencil icon next to Pay.
  4. Under Does employee have any deductions?, click the Pencil icon to add a deduction or click Add a new deduction.
  5. Under Deduction/contribution or garnishment, choose Deduction/contribution.
  6. Under Deduction/contribution, choose New deduction/contribution.
  7. Under Deduction/contribution type, choose Health Insurance. Then, under Type, choose Medical Insurance.
  8. Fill in the necessary fields.
  9. Click OK.

Please check my screenshot below.

 

 

As always, I recommend reaching out to your accountant on the best way to categorize the payroll item and journal entries.

 

Feel free to come back if you have other concerns. Have a good day! 

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