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health insurance accounting treatment

  • 09-10-2014 12:45pm
    #1
    rmflsdl
    Registered Users Posts: 24 ✭


    Hi,

    I really need your help here.

    Some of the employees were left in July14. Their health insurance scheme should have been stopped at the end of July. However, I found out that the health insurance for them wasn't cancelled at the end of July and the company have been paying health contribution for the leavers. I will cancel the schem for them as soon as possible. can I get a refund of the amount the company have paid for the leavers?

    I also have another query. When the scheme was renewed in Aug 14 we got a list of employees with the monthly gross payable amounts and these amounts were used in Aug payroll. However, when I checked Aug breakdown available on the laya website, some of the monthly gross amounts in the Aug breakdown are different from the monthly gross amounts in the renewal schedule.

    For example,

    - Monthly Gross payable amount the company is supposed to include via payroll based on the renewal schedule sent to the company: 3500 euros ( net amount the company is supposed to pay is 2800 euro/ TRS is 700 euros for CT return purpose.
    -The Gross payable amount gone through Aug payroll: 3500 euros
    However,
    -The Gross payable amount in the Aug laya invoice is 3000 euros and the net amount the company paid to laya is 2400 euros. ( TRS is 600 euros for CT return purpose.)
    - in the company's book, the net amount based on the actual payment is gone througt to the health insurance account in the b/s, not gross amount included in the Aug payroll so 2400 euros is in the b/s. As the account is accounted for based on the net payment the company made the account is reconclied. (CR bank 2400 DR health insurance account in B/S 2400 / CR health insurance in B/S 2400 DR health insurance in P/L 2400)


    how can I account for the difference between the payroll figures and the statment figures in our books?
    when I file CT return for year end Dec 14, which TRS figure should I include, 700( actually gone through payroll, employer's costs, 3500 ) or 600 ( actually paid to laya in respect with the gross amount, 3000) ?

    I would be very happy if anybody gives me an advice on the above.


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