Paying accrued payroll liabilities

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Paying accrued payroll liabilities

When you create an employee paycheck in MYOB AccountEdge, the amounts designated for deductions, employer expenses payments and taxes are not paid to the employee nor are they automatically paid to the appropriate vendor. The amounts are assigned to the linked payables account you selected for each payroll category and are accrued liabilities.

It is then up to you to create payments for these liabilities according to your schedule. Consult your accountant or the appropriate government agencies if you're unsure about how or when to file payroll taxes or your other liabilities. (Paying payroll taxes)

Use the Pay Liabilities window to select the vendor you want to pay, the time period, the liability type and the payroll category type to display a list of accrued payroll liabilities for that period.

Note: If more than one liability type is paid to the same vendor, select All as the Liability Type so all of the vendor's payments can be made with a single check.

An accrued payroll liability appears in this window only if:

It is part of a Pay Employee transaction.

Its payroll category type is Deduction, Expense or Tax.

Then mark the payments you want to process and record the payment.

Reports

There are several reports related to payroll liabilities that can be very useful:

The Payroll Liabilities by Category report displays a list of any payroll liabilities that have been accrued for a specified date range for each payroll category type. It includes the amounts that have been accrued and any payments that have made for each category.

The Liabilities Payment Register report displays a list of any payroll liabilities that have been paid for a specified date range for the deductions, expenses and taxes payroll category types.

The Payroll Liabilities Reconciliation Exceptions report displays the value of the total of unpaid payroll accrual transactions and the current balance of the linked accrual accounts and compares them, showing the out of balance amount, if any.

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