cancel
Showing results for 
Search instead for 
Did you mean: 
kellybow144
Level 1

How to set up a payroll deduction for Aflac Whole Life Insurance?

What Tax Tracking Type would this be?  Employee purchased Whole life ($25,000) from Aflac as a weekly payroll deduction.

1 Comment 1
DivinaMercy_N
Moderator

How to set up a payroll deduction for Aflac Whole Life Insurance?

You'll have to create a payroll item for Aflac insurance, @kellybow144.

 

Here's how:

 

  1. Go to the Lists tab and select Payroll Item List.
  2. Click Payroll Item drop-down and hit Newsetuppayrollitem1a.JPG
  3. Pick EZ Setup and tick Next.
  4. Follow the on-screen instruction to finish the setup. 

setuppayrollitem1b.JPG

For more details about the process, please check this article: Set up a payroll item for insurance

 

To determine the accurate tax tracking type, I'd suggest consulting your health insurance administrator or your accountant to know the taxability of the item. This is to ensure you're using the correct account for your employees' deductions. If you don't have an account, you may use our Find an accountant tool

 

Once the set up is done, assign the payroll item to your employee and enter the amount of the deduction. 

 

Then, to see the list of your company payroll items and their details, you may pull up the Payroll Item Listing report. Refer to the steps below:

 

  1. Select the Reports tab.
  2. Choose Employees & Payroll.
  3. Click Payroll Item Listing

setuppayrollitem1.JPG

You can always get back here if you have other concerns or questions about setting up payroll deduction in QuickBooks. I'll be here to help you. Stay safe.

Need to get in touch?

Contact us