Just started Quickbooks a few months ago and have been busy getting everything set up.
I have entered my employee's semi-weekly health insurance deduction through payroll setup. I would like to post this deduction to an expense account called Health Insurance Premiums. The remaining amount would be the employer's health care expense.
Under Payroll Settings - Accounting Preferences, it appears as if I can only post the employee deduction to a liability account. Is this correct? The deduction I created is only listed under "Other Liabilities & Assets". I also see the options "Employer Health Premium" & "Health Ins. Contribution Account", but they seem to only be for recording the employer's cost.