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Holly31
Level 3

Job Costing - Allocate Company Paid Healthcare

How do I allocate company paid healthcare to jobs?  Tried setting up an ITEM that's non taxable to the employee based on the benefits selected.  Because they are paid weekly and benefits are calculated weekly but the insurance bill arrives monthly it's a problem to reconcile. 

Entry is

Debit Healthcare Expense

Credit Payroll Liabilities

 

When the invoice arrives, they are also 

Debit Healthcare Expense

Credit AP

 

How do we make it work?

1 Comment 1
Holly31
Level 3

Job Costing - Allocate Company Paid Healthcare

May have figured this one out... will this work?

 

Payroll Deduction Item (for EE portion) set to 

Debit Payroll/Cash     Credit H/C expense

 

Payroll Company Contrib. Item set to

Debit H/C expense      Credit  Unique LIABILITY account

 

H/C Bill

Debit  Unique Liability account   Credit   A/P

 

Next question, what's the best way to reconcile this Unique Liability Account?  I "should" clear out but we all know how it goes...  Is there a way to set the account to be "reconciled"?

 

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