I've been using MOA to track my BofA online Payroll and creating "fake"
checks to represent the checks/direct deposits from BofA. I basically just
enter each amount into the proper MOA Account. All employee deductions are
P/R Liabilities, but I'm not sure how I should be entering the Employer Tax
Liability portion. Are those Journal Entries in P/R Liabilities from the P/R
Expense Account? My current method creates a Journal Entry that Credits the
P/R Liability Acount and Debit's the P/R Expense Account. This increases the
balance in both accounts.
I guess then when I pay the Tax I'll post it to the P/R Liability Account
which should reduce the Liability back to zero and keep the Expense Account
total equal to the additional expense paid in P/R taxes.
You know what. I think I just "talked" it out here and now it makes sense.
I'm pretty much doing the right thing it seems. Let me know if I'm wrong.
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