Pay Liabilities Payroll Payments and Reporting

Payroll accruals can be for sending in a payment for accrued 401K funds or paying your unemployment taxes withheld. This will help you quickly process a payroll liability payment directly against the open liability amounts. By doing this, AccountEdge can provide a mechanism that enables the ability to print reports, showing:

• What has been paid
• What is outstanding
• Identification that you have put the Payables Subsidiary accounts out of balance, by making a payment entry in the incorrect manner.

The out of balance and exception reporting is included in the Company File Auditor in the Accounts Command Center. This Report provides an Audit of Payroll.

Ability to pay your quarterly taxes, fund the 401k, pay union fees, or pay out any other accrued payroll liability that you have been collecting.

The process should be similar to making a payment to a vendor. You see what is owed, cut a check to the appropriate tax authority and run a report to see what the balance is and reconcile.

Additionally, the following reports help you to report and track:

• Payroll Accruals Reconciliation Exception Report
• Payroll Liabilities Payment Register Report (what has been paid)