Entering personal HSA contributions
How do I enter a personal contribution for an HSA acct. Need to show an asset(Savings) acct that increases and expense acct that decreases? Not employer/employee contribution thru payroll.
70
10658
dneLC-zuqqllvkab8P4pmk
03/18/09 12:44pm PDT
Viewed by asker 03/31/09 1:37pm PDT
Viewed by asker 03/31/09 1:37pm PDT
6 Replies
QBooksConsulting
Questions asked: 19
Questions answered: 3074
Points earned: 5716
Questions answered: 3074
Points earned: 5716
Intuit Solution Provider
Intuit has teamed with a network of Intuit Solution Providers to deliver the personalized and professional services growing businesses need. Get help with finding the right solution, implementation, customization, integration, education, IT and accounting
Allstar
Advisory council of community power users.
Retail Solution Provider
Intuit has teamed with a network of local, certified Retail Solution Providers (RSP) to deliver professional business management solutions and technology consulting services that growing businesses needs.
03/19/09 7:53am PDT
What party is making the contribution and why it is not going through the payroll?
____________________
Oleg Bekker
Intuit Solution Provider | Retail Solution Provider | Certified QuickBooks ProAdvisor
Oleg Bekker
Intuit Solution Provider | Retail Solution Provider | Certified QuickBooks ProAdvisor
A+ QBooks Consulting, LLC
(800) 609-0788
https://qbdeal.com/quickbooks-...
Intuit Solution Provider | Retail Solution Provider | Certified QuickBooks ProAdvisor
A+ QBooks Consulting, LLC
(800) 609-0788
https://qbdeal.com/quickbooks-...
03/20/09 3:36pm PDT
I am paying for the HSA contribution thru my personal checking. My company (my husband and myself as an Scorp) pays the premium.
QBooksConsulting
Questions asked: 19
Questions answered: 3074
Points earned: 5716
Questions answered: 3074
Points earned: 5716
Intuit Solution Provider
Intuit has teamed with a network of Intuit Solution Providers to deliver the personalized and professional services growing businesses need. Get help with finding the right solution, implementation, customization, integration, education, IT and accounting
Allstar
Advisory council of community power users.
Retail Solution Provider
Intuit has teamed with a network of local, certified Retail Solution Providers (RSP) to deliver professional business management solutions and technology consulting services that growing businesses needs.
03/22/09 1:11pm PDT
Do you make the payment to your company, and teh company pays it to the HSA account, or you are paying from your checking account directly into the HSA one?
____________________
Oleg Bekker
Intuit Solution Provider | Retail Solution Provider | Certified QuickBooks ProAdvisor
Oleg Bekker
Intuit Solution Provider | Retail Solution Provider | Certified QuickBooks ProAdvisor
A+ QBooks Consulting, LLC
(800) 609-0788
https://qbdeal.com/quickbooks-...
Intuit Solution Provider | Retail Solution Provider | Certified QuickBooks ProAdvisor
A+ QBooks Consulting, LLC
(800) 609-0788
https://qbdeal.com/quickbooks-...
03/23/09 11:29am PDT
The HSA contributions are paid thru our personal checking acct. The Premuims are paid thru our company as a deduction.
QBooksConsulting
Questions asked: 19
Questions answered: 3074
Points earned: 5716
Questions answered: 3074
Points earned: 5716
Intuit Solution Provider
Intuit has teamed with a network of Intuit Solution Providers to deliver the personalized and professional services growing businesses need. Get help with finding the right solution, implementation, customization, integration, education, IT and accounting
Allstar
Advisory council of community power users.
Retail Solution Provider
Intuit has teamed with a network of local, certified Retail Solution Providers (RSP) to deliver professional business management solutions and technology consulting services that growing businesses needs.
03/28/09 8:44pm PDT
I am a bit confused here. If you pay contributions from your personal checking account, why you want to track it on the company's books? And how the premiums paid by company are relevant to the contributions you personally pay from your account?
____________________
Oleg Bekker
Intuit Solution Provider | Retail Solution Provider | Certified QuickBooks ProAdvisor
Oleg Bekker
Intuit Solution Provider | Retail Solution Provider | Certified QuickBooks ProAdvisor
A+ QBooks Consulting, LLC
(800) 609-0788
https://qbdeal.com/quickbooks-...
Intuit Solution Provider | Retail Solution Provider | Certified QuickBooks ProAdvisor
A+ QBooks Consulting, LLC
(800) 609-0788
https://qbdeal.com/quickbooks-...
03/31/09 1:37pm PDT
Latest post
Sorry! The company pays the HSA premuim. It is an expense for the company. We contribute to the account to fund it for medical expenses from our personal checking acct. How to I show on our personal balance sheet that we have an expense AND it is going into a savings account that we get paid interest on, too. Both an expense and income account entry. For tax purposes, we show an expense for the company for health insurance and on our personal taxes we have an adjustment to gross income on line 25/Form 1040.
