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Level 1

Manually entering box 12w for Employer contributed HSA

We contributed amounts to our employees HSA's, but we didn't have the correct setup for recording it throughout the year, and now need to make sure it's entered in box 12 code W for our employees. Is there a way to manually enter these amounts? 

1 Comment
QuickBooks Team

Manually entering box 12w for Employer contributed HSA

Thank you for posting here in the Community, @kskove.

 

Let me help you correct your contribution amounts.

 

The first thing we need to do is to set up HSA in each employee's profile.


Here's how:

  1. On the left panel, hover your mouse to Workers, and click Employees.
  2. Click on the Employee name.
  3. In section 2, click the Pencil icon.
  4. Click on Even more ways to pay.
  5. Tick the box for Company HSA Contribution.
  6. Click on Done.

If this is your most recently created paycheck, you can delete and recreate it while making sure its paycheck date belongs to 2018. This way, taxes will be calculated and added for 2018.

 

Here are the steps:

  1. On the left panel, hover your mouse to Workers, and click Employees.
  2. On the upper right corner, click on Paycheck list.
  3. Tick the paycheck created.
  4. Click on Delete.

Or you also have the option to add it as a fringe benefit adjustment. Here's how:

  1. On the left panel, hover your mouse to Workers, and click Employees.
  2. Under the Run Payroll drop-down, select Fringe benefits only.
  3. Enter the correct HSA Contribution amount.
  4. Select Preview Payroll.
  5. Review the details, and select Submit Payroll at the bottom right corner.

Feel free to read this article for more information on fringe benefits: Add Fringe Benefits to an Employees Paycheck for Online Payroll. Scroll down and look for the section labeled "To add fringe benefit adjustment" under "QuickBooks Online Payroll."

 

Please leave a comment below if you have other concerns. Have a blissful day!

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