My expense for healthcare is paid at the beginning of the month (health insurance for the month of July is debited from my account on July 1).
My employER expense and employEE deductions accumulate into the health insurance liability account throughout the month. I would rather not leave the expense uncategorized all month long if I dont have to.
I was told that I would have to create and expense at the end of the month choose the category of "health insurance liability" and any remaining difference to be allocated to health insurance expense.
Is there a good (better) way to categorize the health insurance expense when it shows up in the banking tab and just apply the "liability" later as incurred ? I hope this makes sense.
