Click into the Review Paycheck 2. Examples of payroll deductions include union dues, loan repayments, employee-paid insurance, and employee contributions to a pension or 401(k) plan. 4. Use S-Corp payroll items you just set up: This adjustment can be made in a separate paycheck using unscheduled payroll or in the next regular payroll. To add the Section 125 health premium deduction: 1. 3 - Create a new paycheck for the corporate officer and click Preview Paycheck. QuickBooks Online 2019-Payroll Item Setup Health Insurance Employer paid Note: If payroll is not turned on in your Quickbooks file, then you will not see the Payroll Item List selection. If you are not confident you have set up QuickBooks Payroll correctly, it is in your best interest to contact a QuickBooks Pro … Under Does this employee have any deductions?, click the pencil icon to edit a deduction, or click Add a new deduction to add one. To set up company contributions to an employee's health insurance: In the left navigation bar, click Employees. Click the employee's name, and then click Edit employee. 3. Quickbooks provides the basic payroll items already listed in the payroll item list, e.g. 4 - Remove any earnings item all other items (start with a blank paycheck). Automatically when you pay employees by attaching the new payroll item to each employee record. 1. QuickBooks is designed to deduct the employee share of premiums from each paycheck and create a payroll liability to the insurer. Create a paycheck for each S-Corp owner that is covered by a company health insurance policy. Payroll Administrators must create a separate payroll item for each payroll deduction from gross or net pay. When setting up employee deductions, such as health insurance, 401k plans, wage garnishments and other payroll deductions, you must first set up a new payroll item. How to Set Up an Employee Deduction Health Insurance Payroll Item in Quickbooks Desktop Open Quickbooks desktop and click on the Lists menu and select Payroll Item List. Here is the scenario. With 1 in 12 Americans already paid through QuickBooks Payroll, adding insurance to the mix removes another barrier for owners. Set up a Company Contribution payroll item with a new tax-tracking type. The new rules allow an S-Corporation to pay the health insurance premiums directly or to reimburse employees for payments made personally. A new service from Intuit (NASDAQ: INTU) QuickBooks is going to simplify health insurance for small business owners by making it part of its online payroll solution. You have a group health insurance plan set up in payroll to deduct an employee contribution and keep track of an employer contribution. Record health care coverage costs per employee in . hourly wages, salary, overtime, federal and state withholdings, vacation and sick time, etc. b. Manually when you pay employees by entering the payroll item for each paycheck. How to Set Up Health Savings Account Employee Deduction Item in QuickBooks Desktop Payroll Open Quickbooks desktop and click on the Lists menu and select Payroll Item List. Recent IRS rules regarding the deduction for health insurance payments for S-Corporations have changed the deductibility of health care coverage. Enter the S-Corp Adjustment payroll item created in Step 2, for the amount of .01 on the next line. Note: If payroll is not turned on in your Quickbooks file, then you will not see the Payroll Item List selection. See Set up contributions to an HSA. one of three ways: a. 5 - Under Other Payroll Items:. QuickBooks Payroll Adds Health Insurance Options. QuickBooks software allows you to easily manage and track HSAs by the simple step of setting up a Health Savings Account payroll item. 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