USA FSA

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Jan 14, 2021
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Good morning. Looking for some information related to FSA Journal entries. Currently the company has a third party vendor managing FSA. Payment from individual employees is directly paid from the outside payroll company to the FSA vendor. As a company we do not record any transactions on our books. Is this correct?

If a company uses a third party vendor to manage FSA and prefunds the entire year on behalf of the employees as a cushion, how is this recorded on the company's books? The employee will continue to have payroll deductions and payment will be sent to the third party vendor.
 
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Does the outside payroll company not report it on the payroll summary?
 

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