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CongConsulting
Level 1

How do i record expenses for health insurance premiums in QBO Plus?

Specifically, paid from personal funds

2 Comments 2
Rustler
Level 15

How do i record expenses for health insurance premiums in QBO Plus?

Why would you?  Personal finance and personal expenses do not belong in the company accounting, but if you must ...

 

Make a deposit in a cash type bank account and use owner equity investment as the source account for the deposit

 

write a check on the cash account, do not print, and use the insurance expense account 

CongConsulting
Level 1

How do i record expenses for health insurance premiums in QBO Plus?

The reason I would is because health insurance premiums are often deductible on US taxes if you are self-employed, so having it as a business expense might help that. But it's possible that it's deductible elsewhere so it might not be the right solution.

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