Our company pays 70% of health insurance. Am I required or is there a reason I put the 70% amount in company contributions?

Welcome back to the Community, @bloper.

In QuickBooks Online (QBO), all company contributions need to be recorded, so it will show in Form 940, and be reported to the Internal Revenue Service (IRS). However, I suggest consulting your accountant to check if you can exclude this in the report.

To learn more about the descriptions of the supported pay types and deductions in QBO as well as how each impacts federal taxes and forms, check out this article: Supported pay types and deductions explained.

Reach out to me in the comment section below if you have any other questions or concerns. I'll be here to help. Have an amazing rest of the day!