Notifications
Clear all
Topic starter
23/12/2019 11:46 am
This is something I've never come across, the previous bookkeeper/accountant makes a JE monthly debiting (reducing) the various benefits payables accounts and crediting (increasing) the company's benefits expense accounts.
When we pay the benefits provider, why wouldn't we just reduce the payables and expense our portion when we write the check? Isn't this the company taking withholding as expenses as well as our portion?
Thanks
Kelley