QB Issue Resolution:

If you follow the instructions for setting up the S Corp Medical payroll item, QB uses the “Payroll Libilities” account as the default liability account and “Payroll Expenses” as the expense account.
So when you make your entry, QB debits “Payroll Expense” for the premium amount and credits the “Payroll Liabilities” account for the premium amount.
It is the entry to the “Payroll Liabilities” account that is your “reduction” of the insurance expense already recorded. Since you have already paid the premiums, you can edit the S Corp Medical payroll item and change the “liability account” to the expense account where you recorded the premium payments. This will then post a credit to your premium expense account, I think that is the “credit”/deduction you are looking for.

 

Resolution for Issue 'S-Corp end of year medical insurance adjustment.' available: Yes (Solved).
Source: Intuit Community forum.

S-Corp end of year medical insurance adjustment.: 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 Payroll
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!

Error Recovery for Payroll [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.

Get 50% off Quickbooks Online

Click Here for 50% off!

Additional Support Options: