Employee Benefit Health Savings Account

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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Ruby B
Posts: 16
Joined: Mon May 10, 2010 1:40 pm

Employee Benefit Health Savings Account

Post by Ruby B »

Have set up Description Item Employer Paid Taxable Benefit and assigned to Employee. Employer Paid Taxable Benefit will be administered by an independent vendor. How can I determine what account the Taxable Benefit will post as a liability/account payable? Other Description Items allow for assigning the appropriate account but I don't see that option for the Taxable Benefit item. What am I missing?

Thanks for your assistance.

JohnDMeyers
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Re: Employee Benefit Health Savings Account

Post by JohnDMeyers »

I don't know much about taxable benefits, but I'll take a guess.

Whatever the taxable benefit is, it must be that it is paid out of Accounts Payable, and is not a part of payroll. The only part of the taxable benefit that concerns Payroll is putting the income amount in the appropriate box on the W2.
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