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.
Employee Benefit Health Savings Account
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Re: Employee Benefit Health Savings Account
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.
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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