EFTPS
Moderators: Moderators, Tech Support
Re: EFTPS
How did you do this previously ?? Through the Accounts Payable ?? If so, nothing has changed, except you do not create a computer check, you write a MANUAL check, using EFT (or whatever you want to use to denote an electronic payment) as the check number.elidajacobs wrote:I have just made my first online paym for EFTPS and want to know how to manually inter it into PC? The Debits and Credit accounts. Of course the bank one but what after that??? Thank you very much....
The transactions are exactly the same. If you didn't use Accounts Payable, but manually entered the transactions, just go back and look at a previous payment to the IRS.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
Re: EFTPS
Let me see if I understand your issue, and then rephrase my questions.elidajacobs wrote:This is the first on line payment and have never entered one as a manual check or any other way. That was the question - thanks for any help...
1. This is your first payment to the IRS using their online system.
2. You have made payments to the IRS in the past using a check, correct ??
3. This electronic debit of your account would work exactly as a check, except you do not need to write or mail one in.
4. The Funds Accounting transactions are exactly the same. If you've used Accounts Payable in the past to create the IRS invoice and/or payment, you can continue to do that, but set up the payment as a manual check, not a computer printed check.
I hope I've made this clearer.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
Re: EFTPS
If on the other hand, this is your first payment to the IRS, then you would typically credit your bank and debit the liability account or accounts that you have been putting the money into from the employees and employer items.