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HIPSTER31405
Level 2

Insurance Premium Received from Employee

 For employees that are on our health insurance plan, we typically their portion of the premium every two weeks.  We've temporarily suspended operations and laid off our employees.  For the month of April, covered employees are paying us (the premium) and we are paying the insurance company.  How should I record the payment from the employee?  Normally, when we run payroll the liability is created for health insurance and the same expense category is affected when we pay premium.  Since there is no payroll, what's the best way to acccomplish this?

1 Comment 1
Ashley H
QuickBooks Team

Insurance Premium Received from Employee

Good morning, @HIPSTER31405. I hope you're having a great week so far.

 

I recommend reaching out to your accountant for advice on how to record this information. They know how your books are organized and they'll have tools to help with the process. 

 

Here's a Community Article that provides helpful resources for businesses that are going through this pandemic: QuickBooks business resources and tax info for Coronavirus (COVID-19). It provides payroll and tax information that you may find useful.

 

If you have additional questions or concerns, please don't hesitate and reach back out to me. Wishing you and your company health and safety.

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