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J
JK7338
January 13, 2026
Question

Minnesota PMFL - Equivalent Plan Tracking

  • January 13, 2026
  • 1 reply
  • 4 views

Our company has decided to go with an equivalent plan to handle our PMFL. How should this be recorded in QuickBooks? 

  • The company will be paying 100% of the cost
  • Our rate is 0.72%

 

Should I input MN - Paid Leave Co. as 0.72% or as 0%?

My concern is if QuickBooks will automatically process those funds over to the state at the end of the quarter? We need those funds to be allocated to our equivalent plan carrier ShelterPoint, not the state.

 

If I do record MN - Paid Leave Co. as 0%, how will I then track the amount we owe ShelterPoint? What would be the best report to run?

1 reply

Morgan_B
Morgan_BQuickBooks Team
QuickBooks Team
January 13, 2026

Good morning, JK7338.

 

Thanks for bringing your question forward here in the Community. I want to make sure you're able to properly record PMFL in your QuickBooks Desktop account.

 

In this particular situation, I recommend consulting your accountant to find out the best way to get this entered. They'll be able to tell you how to get this recorded based on your unique business setup and workflows. If you don't currently have an accountant, you can find one in your area specifically trained in QuickBooks by searching here: Find a ProAdvisor.

 

Please don't hesitate to drop a comment below if you have any other questions. I'll do my best to help in any way that I can.

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