Fields in the Payroll Linked Accounts window

Fields
Payroll Linked Accounts window

Payroll Checking Account
Enter an account that will be used to track the money you've paid to employees. This account typically is an account named "Payroll Checking" or something similar.

Default Employer Expense Account
Enter an account that will be used to track the employer expenses that aren't deducted from employees' paychecks. This account will appear as a default entry in the Employer Expense Information window when you add or edit individual employer expenses; you can override that default entry, if you wish.

Default Wages Expense Account
Enter an account that will be used to track your wage expenses. This account will appear as a default entry in the Employee Payroll Information window for individual employees; you can override that default entry using the Employee Payroll Information window, if you wish.

Default Payable Account
Enter an account that will be used to track the amounts withheld from employee paychecks. When you withhold money -- taxes or deductions -- from an employee's paycheck, the amounts you withhold are recorded in this account. This account will appear as a default entry in the Deduction Information, Employer Expense Information and Tax Table Information windows; you can override those default entries, if you wish.

MYOB AccountEdge provides a single default withholding account. Many businesses prefer to separate taxes withheld by using different liability accounts for each tax. If you want to do this, first be sure you have separate liability accounts for this purpose in your accounts list. Then enter the account you want to use in the Linked Payable Account field of the Tax Table Information window for each tax for which you want to track amounts separately.

OK button
Click this button to accept the entries you've made and close the window.