QB Issue Resolution:
In QuickBooks you have the freedom to create an account name that you deemed as appropriate as long as it is associated to a correct account type.
Preferably, you can use the Expense account type and name it Workers Comp or make it a subaccount of Payroll or of Insurance. As for what kind of Expense account to use, your best bet is to reach out to your accountant for guidance, but once you have spoken to them, this is how you would create the account in QuickBooks:
- Choose the Gear icon.
- Under Settings, choose Chart of Accounts.
- Click the New button in the upper right. A pop-up window will open.
- Choose the appropriate Category Type for the account.
- After Category Type is selected, the Detail Types related to that account type will be visible.
- Click Save and Close.
Resolution for Issue 'if i purchase a workers comp insurance . What expense should I enter it under?' available: Yes (Solved).
Source: Intuit Community forum.
if i purchase a workers comp insurance . What expense should I enter it under?: 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.Support for QBO
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!
Error Recovery for QBO [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.
Additional Support Options: