Employer HSA matching contribution questions

Special K
Special K Quicken Windows 2017 Member ✭✭✭

My employer makes matching contributions to our HSA brokerage accounts but the amounts shown on our paycheck don't correspond to the activity in the HSA brokerage account.

Each paycheck will show an HSA matching contribution as income with a corresponding post-tax deduction, but the deposits into the brokerage account are only made quarterly.

What is the best way to enter this in Quicken? I know there isn't an "HSA match" field that you can add to a paycheck, so should I do the following:

  1. Add income and corresponding post-tax deductions to each paycheck corresponding to each HSA matching contribution?
  2. Manually enter transactions into the HSA investment account that match the brokerage's records? If so, what category do I use for these transactions since the money isn't being transferred from another account?

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    I'd record the MATCH, but not the removal side, to an Intermediate Asset account … and quarterly record a transaction that moves those funds to the actual HSA to match what happens in real life.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Special K
    Special K Quicken Windows 2017 Member ✭✭✭

    I'd record the MATCH, but not the removal side

    Thanks for the reply. What do you mean by "but not the removal side"? I assume there would be one transaction from each paycheck that moves the HSA matching funds to the intermediate account, and then a series of transfers out of that intermediate account to the HSA brokerage account. So what is the "removal side"?

    to an Intermediate Asset account

    When you say "Intermediate Asset account", would that just be another "Brokerage account" in terms of the account types supported by Quicken?

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