User Support Forum

Using Version 11.5

Setting up payroll and I confused when it talks about creating account payable entries. Does this mean that I can create a payable for the monthly tax liability (941 monthly tax deposit) from the payroll module?
Should I create a Payable account number to show the monthly liability for the 941 tax payment?

Under reports there is the 941 tax deposit report- isn't that the created entries that will be paid?


At the present time, I'm learning the software by working with data from April 2012 so all entries are being done as manual enteries. The system is not generating any checks or payables at this time.

Hope you understand my questions.
Pamela Shaw, Treasurer

Here is a snippet from another recent post. It shows which parts come from payroll, and which parts get paid in Accounts Payable.

Here is a link to that post: viewtopic.php?f=3&t=7741&p=26658&hilit= ... ing#p26658


--------
Payroll:
Gross Pay:
CR 01-1110-000 checking 234.12
DB 01-5140-000 expense 234.12

Fed W/H (liability)
DB 01-1110-000 checking 20.89
CR 01-2110-000 Fed liability 20.89

SSI Employee (liability)
DB 01-1110-000 checking 9.83
CR 01-2120-000 SSI liability 9.83

Medicare employee (liability)
DB 01-1110-000 checking 3.39
CR 01-2130-000 Medicare liability 3.39

SSI Employer (expense)
CR 01-1110-000 checking 14.52
DB 01-5180-000 SSI expense

Medicare employer (expense)
CR 01-1110-000 checking 3.39
DB 01-5190-000 Medicare expense 3.39

-------

Accounts Payable (pay taxes)
Fed W/H (liability)
CR 01-1110-000 checking 20.89
DB 01-2110-000 Fed liability 20.89

SSI Employee (liability)
CR 01-1110-000 checking 9.83
DB 01-2120-000 SSI liability 9.83

Medicare employee (liability)
CR 01-1110-000 checking 3.39
DB 01-2130-000 Medicare liability 3.39