Employee benefits: Health Insurance

Tedmhind · ‎March 14, 2023

As payroll is done the general ledger posting entry is:

Dr. Employee benefits Health Ins. Expense

Cr. Employee Benefits Payable

Kaiser Permanente Bills in advance to the liability account always has a debit balance. I would like to change the benefits payable to a prepaid asset account... prepaid Benefits and am having difficulty in finding a way to do this.

Any ideas on this would be greatly appreciated.

Ted Hind

LeizylM · ‎March 14, 2023

Hi there, Ted Hind.

Let me make it up to you by ensuring you'll be able to change the Benefits Payable to a Prepaid Asset account in QuickBooks Online (QBO).

You can edit the Employee Benefits Payable through the Payroll Settings.

Here's how:

1. Go to the Gear icon.

2. Select Payroll Settings under Your Company.

3. Look for the Accounting, and click the Pencil icon.

4. From the Other Liability and assets, click the Pencil icon to edit.

I've added this article to know more about the Payroll reports that you can run in QuickBooks:

If you have more questions about Employee Benefits Payable, feel free to reach back out through this thread. I'm just around to help. Have a great day!

View solution in original post

LeizylM · ‎March 14, 2023

Hi there, Ted Hind.

Let me make it up to you by ensuring you'll be able to change the Benefits Payable to a Prepaid Asset account in QuickBooks Online (QBO).

You can edit the Employee Benefits Payable through the Payroll Settings.

Here's how:

1. Go to the Gear icon.

2. Select Payroll Settings under Your Company.

3. Look for the Accounting, and click the Pencil icon.

4. From the Other Liability and assets, click the Pencil icon to edit.

I've added this article to know more about the Payroll reports that you can run in QuickBooks:

If you have more questions about Employee Benefits Payable, feel free to reach back out through this thread. I'm just around to help. Have a great day!

Tedmhind · ‎March 21, 2023

Thank you Leizy...

The Other Liability and Assets do not show up until you set up employer contributions I guess.

But it was there plain as day on the client's Payroll.

Thanks, I am able to fix it for them now and get that Prepaid insurance set up.

Ted

ReymondO · ‎March 21, 2023

Thanks for getting back to us, @Tedmhind.

I'm glad that my colleague LeizylM was able to help you accomplish your task in QuickBooks Online (QBO) Payroll.

If you have any follow-up questions or queries, please add them to this thread. I'd be glad to help you out.

Tedmhind · ‎March 21, 2023

Thank you

Tedmhind · ‎March 21, 2023

I do have one other question in this line of thought...

The "Payroll Liabilities: Medical Insurance" shows up in the Detail Type as "Payroll Tax Payable"

Is there an error here??? Surly medical insurance payable is not payroll tax payable.

Thanks for any light you can share on this...

Ted

Candice C · ‎March 21, 2023

Good morning, @Tedmhind.

Thanks for coming back and asking additional questions.

To best answer this question, I recommend consulting with your accountant to be sure. They'll be able to give you advice based on how you run your business.

Keep us updated on how the conversation goes with your accountant. If you have any other concerns, don't hesitate to ask. Have a splendid day!

Tedmhind · ‎March 21, 2023

The client has it this way...

I was thinking that it is the way QBO details these transactions in Payroll. I guess I need to suggest a change here if this is not the case.

MirriamM · ‎March 21, 2023

Hi there, @Tedmhind.

We recognize that each company has unique needs, and I can see how the feature you're looking for would benefit and empower your business. I recommend sending this request straight to our product engineers through feedback. It helps us improve the features of the program.

To send feedback, follow the below steps:

Go to the Gear icon at the top.
Select Feedback.
Enter your comments or product suggestions.
Then select Next to submit feedback.

To be updated with the recent and upcoming changes for QuickBooks products, visit these sites:

Please let me know if there's anything else I can do for you. I'll be standing by for your response. Have a great day.

Topics

Training

Community

Resources

Employee benefits: Health Insurance