QB Issue Resolution:
Let’s create an adjustment paycheck for S-Corp Owners Health Insurance to correct your W2 data for 2018.
A fringe benefit is a type of employee compensation that has special payroll reporting requirements. The S-Corp Owners Health Insurance belongs to the non cash benefits category.
To add the S-Corp Owners Health Insurance in QuickBooks, please follow these steps:
- Go to the Workers menu.
- Select the employee’s name.
- Click the Pencil icon next to the Pay section.
- Under Step 2, How much do you pay this employee,click the Add additional pay types hyperlink.
- Under the You can also pay this employee section, check the tick box beside S-Corp Owners Health Insurance.
- Input an amount (Optional).
- Click Done twice.
Since you’ve already processed the last payroll for 2018, you can no longer add the S-Corp Owners Health Insurance to a paycheck, you’ll enter an adjustment. You can run an unscheduled payroll dated December of 2018. Here’s how:
- Go to Workers, then select Employees.
- From the Run Payroll drop-down, select Fringe benefits only.
- Select Yes, my business will pay the taxes or No, my employee will pay the taxes, then click Continue.
- Change the Adjustment Date or the Pay date to December 31, 2018.
- Select the box next to the employee name for the adjustment and enter the value of the benefit.
- Select Preview Payroll.
- Review Fringe Adjustment, then select Submit Payroll.
Since it’s the beginning of a new year, please don’t forget to make your final tax payments and file forms.
Resolution for Issue 'The last paycheck of 2018 had been processed. I want to add total S Corp Health Insurance to 2018 W2 report in one paycheck. How can I do that?' available: Yes (Solved).
Source: Intuit Community forum.
The last paycheck of 2018 had been processed. I want to add total S Corp Health Insurance to 2018 W2 report in one paycheck. How can I do that?: 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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