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Scorp healthcare premium paid with credit card how to reconcile correctly since healthcare was processed through payroll?

 

Could someone please help me with the reconciliation of the actual Credit Card Payment of the emploYER paid health insurance premium.

 

 

S-corp Health was processed and accounted for with  payroll and showed up in the

 

 

2170 -Payroll Liability Account as a lump sum and not separated out, 

it basically shows a credit amount of all benefits

 

 

Cr $9000

 

 

and then in the separate chart of account

 

 

6690 -Medical & Dental Expense Account it has a debit AND credit amount for the benefit amount

 

 

Cr 3000 Debit 3000.

 

 

When I import the credit card statement with the actual credit card payment amount do I reconcile the spent money of $3000 to the 2170-Liability account or to the 6690-Expense account.

 

 

How are the actual credit card payments for s-corp healthcare reconciled if the S-corp emploYER paid healthcare was run trough Payroll and recorded in the above mentioned liability and expense account.

 

Thank you.

1 Comment
QuickBooks Team

Re: Scorp healthcare premium paid with credit card how to reconcile correctly since healthcare wa...

Hi there, allesandre2014.

 

It's a pleasure to have you join us here in the Community. I'm by no means an accounting professional, but I do have some insight and resources to provide that can help get you on the right track.

 

In QuickBooks, S-corp Health Insurance Premium is primarily affecting a liability account. Based on the situation you mentioned, I'd recommend you reconcile the spent money on the 2170-Liability Account.

 

However, please be sure to reach out to an accounting consultant to ensure this method is the best suit for your business. With Intuit's Find-A-ProAdvisor site, you can search for certified professionals in proximity to your ZIP code that can discuss options more personal to your business's needs.

 

Be sure to let me know if there's anything else I can do to help you succeed with QuickBooks. Thanks for reaching out, wishing you all the best.

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