Correct Accounting entries

[pstafford3]

When you transfer money from the church savings to checking what should be the proper entry in PC? Is it just a credit to the savings income account and debit to checking income account? also what is the proper way to relieve the liabilities after you pay your Federal and State payroll taxes online? We received a refund from overpayment is it proper in PC to debit the checking and credit the expense account it was paid from?

[NeilZ]

When you transfer money from the church savings to checking what should be the proper entry in PC? Is it just a credit to the savings income account and debit to checking income account?

Yep .. simple double entry accounting.

also what is the proper way to relieve the liabilities after you pay your Federal and State payroll taxes online?

You write a manual check to the IRS using EFT as the check number, and credit the checking account, and debit the liability accounts (Withheld FedTax, Social Security & Medicare). You would do the same with the state tax, just debit the withheld State Tax liability. FWIW ... this would normally zero out the liability accounts since the amounts calculated by PCPlus should be the amount that should be paid out.

We received a refund from overpayment is it proper in PC to debit the checking and credit the expense account it was paid from?

I would do it that way, although I would probably be told that it was incorrect.

[Matt]

Depending on what the original debit/credit entries were when the overpayment was made you may need to debit the checking account and credit the liability account.