Report Employer Health Insurance on W-2s via QuickBooks

by James Antonio

Recording and reporting health insurance details of employees to the authorities is a huge responsibility that employers have to shoulder. To help make things easier for them, QuickBooks has come with feasible features that make entering information smooth.

What is Health Insurance on W-2s all about?

The employers are liable to record and report the cost of health care coverage sponsored by them on a W-2 of an employee, under the Affordable Care Act, or ACA. The W-2 forms are for information-purpose only, containing useful details on the employee’s health insurance sponsored by employers.

Why Report Employer Health Insurance on W-2s in QuickBooks?

When it is QuickBooks, accuracy is almost guaranteed. As data entry is smooth, employers hardly find any issue in reporting the details to the concerned authorities. The payroll, however, doesn’t generate the health insurance sponsored by employers automatically on W-2s.

Step to Reporting Employer Health Insurance on W-2s via QuickBooks

Follow the below mention steps to reporting employer health insurance on W-2s via QuickBooks.

Option 1: Enter Details

Once you know you require reporting health insurance, here are the steps you will need to follow:

  1. Ensure auto pay and file option is turned on
  2. Choose Taxes &Returns
  3. Select Taxes
  4. Choose Annual Forms
  5. Click on W-2, Copies B, C & 2
  6. Go to the Printable Employee Copies: Form W-2 page
  7. Choose Health Coverage link
  8. Choose Go Here, if you are doing it for the first time
  9. Choose Need to update… option for Health Coverage amounts for box 12
  10. Enter the amount with the dollar sign:
    • You can either use Box 12DD for coverage for employees, or
    • Use Box 12FF for reimbursements for employees

Option 2: Track Details

  1. Go to the Employees menu
  2. Choose Manage Payroll Items
  3. Select New Payroll Item
  4. Select Custom Setup
  5. Click Next
  6. Select Company Contribution
  7. Click Next
  8. Give a unique name for the new payroll item. This will appear on the pay vouchers and pay stubs of employees
  9. Click Next
  10. Leave text boxes blank for agency information
  11. Click on the dropdown menu beside the Liability Account box
  12. Choose Add New
  13. Choose Other Expense for the Account Type
  14. Have a new account created with a new name and add it
  15. Click on Save & Close
  16. Click Yes and ignore the warning message that appears
  17. Select the Health Coverage Cost option from the dropdown for tax tracking type
  18. Click Next thrice
  19. Choose Finish

How Dancing Numbers will Help You?

Dancing Numbers is SaaS-based software that can easily be integrated with your QuickBooks account. You can import, export, and delete lists or transactions from your company file. Using Dancing Numbers you can simplify and automate the process, saving time and increasing productivity. Just fill in a few fields and apply the relevant features to complete the task.

It saves your time and money that you can invest in your business. It has no human errors, works automatically, provides a user-friendly interface (easy to use and learn), and more. You can also have access to the comprehensive features set if you use it to Bulk import, export, and delete services.


Why Report Health Insurance on W-2s?

The employers are liable to record and report the cost of health care coverage sponsored by them on a W-2 of an employee, under the Affordable Care Act, or ACA.

Does this Reporting make the Insurance Taxable for Employees?

No. It will remain tax-free.

Features of Dancing Numbers for QuickBooks Desktop

Imports

Exports

Deletes

Customization

How Dancing Numbers Will Help You

 

Dancing Numbers is SaaS-based software that can easily be integrated with your QuickBooks account. You can import, export, and delete lists or transactions from your company file. Using Dancing Numbers you can simplify and automate the process, saving time and increasing productivity. Just fill in a few fields and apply the relevant features to complete the task.

It saves your time and money that you can invest in your business. It has no human errors, works automatically, provides a user-friendly interface (easy to use and learn), and more. You can also have access to the comprehensive features set if you use it to import, export, and delete services.

Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Invoice
Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

Technical Details

Devices Supported

  • Windows

Deployment

  • On Premise

Language Support

  • English

Pricing Model

  • Annual Subscription

Customer Types

  • Small Business
  • Medium Business

Pricing

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Importer, Exporter & Deleter

*See our Pricing for up to 3 Company Files

$199/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Unlimited Export
  • Unlimited Import
  • Unlimited Delete

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Accountant Basic

*See our Pricing for up to 10 Company Files.

$499/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer,Exporter,Deleter
  • Unlimited Users
  • Unlimited Records
  • Upto 10 companies

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Accountant Pro

*See our Pricing for up to 20 Company Files.

$899/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 20 companies

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Accountant Premium

*See our Pricing for up to 50 Company Files.

$1999/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 50 companies

Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.


What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.

Get Support

The Bulk Import, Export, and Deletion can be performed with just an easy single-click. We offer a simplified process that assures you that you will be able to focus on your core work.

Are you worried about losing your time with error-prone software? Worry no more. Our error-free add-on lets you focus on your work and boost your productivity rate to a considerable extent.

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