How do I record a payment from an ex employee who is reimbursing us monthly for COBRA coverage?
We have a terminated employee who sends us a monthly check for her COBRA continuation health insurance coverage. How do I apply this payment to reflect that it's for our health insurance vendor, even though the check is made out to our company?
How do I record a payment from an ex employee who is reimbursing us monthly for COBRA coverage?
I suggest use a contra-expense account right below the health insurance expense account, where the expense account has a debit balance and contra account has a credit balance for the amount you receive for Cobra.
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