QB Issue Resolution:

“wants to amoritize their insurance payments across the year.”

 

Let’s examine some considerations: If this is a Cash Basis entity, then the date of the payment is the date of Expense. There is no Prepayment and Amortization process involved. If I accidentally pay 14 months’ rent, I spent that much on Rent as Expense. That is Cash Basis tracking and reporting.

 

“If I use an insurance expense and expense it to the vendor each month, is this the best way? Will it track in B-sheet this way?”

 

Next, Health Insurance is a Personal Expense, part of the 1040. Not a Business Expense, unless that is for Employees. It is equity Out.

Resolution for Issue 'An owner of an LLC wants to amoritize their insurance payments across the year. If I use an insurance expense and expense it to the vendor each month, is this the best way? Will it track in B-sheet this way?' available: Yes (Solved).
Source: Intuit Community forum.

An owner of an LLC wants to amoritize their insurance payments across the year. If I use an insurance expense and expense it to the vendor each month, is this the best way? Will it track in B-sheet this way?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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