Wages Liability

[David Harrison]

On Sat, 16 Oct 2004 13:26:14 -1100, Bill Wisse <wiswp at niue.nu> wrote:
> 
> It is probably easy but.............
> 
> I have a couple of employees who I pay weekly.
> The entries in GC for that are not a problem, however how do I do the
> following?
> Every week I want to set aside (on paper) an amount what covers for Sick and
> Holiday pay.
> I want this to show up  as a liability.
> Now my question is what accounts do I use?

I would use a liability account called something like Employee
benefits payable.  The expense side would be called Employee benefits.

Hope that helps,

Dave