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Join nowI have an S-Corp and have temporarily laid off employees until business resumes (due to COVID 19). I committed to continue paying employee health care premiums during this temporary layoff. How do I do this in QuickBooks? Normally a liability is created as part of paying employees (i.e. SCorp Medical Insurance), but I am not paying employees this month.
If this is a taxable fringe or you generally deduct a portion as a copay you could run payroll with zero hours and enter an adjustment (+) from a reimbursement account or add in your regular health insurance expense account to get to a zero check. But even running a zero check might cause issues later with them being considered on instead of off work.
I would just enter a check for the amount of the premium as health insurance expense
Thank you for the advice! I tried your first suggestion, but QuickBooks would not let me run payroll with $0. I'll try your second option, . . . then compile all the premium costs during the layoff period and put it on the next paycheck to the employee(?) You're right in that this is a taxable benefit - I want to make sure this flows correctly.
Thank you for the advice! I tried your first suggestion, but QuickBooks wouldn't allow me to run a $0 payroll. I'll try the second suggestion - then compile all the premium costs paid during the layoff period and add it to the next employee paycheck (?). You're correct in that this is a taxable benefit - I want to make sure it flows to the employee appropriately.
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