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Re: How to record an employee payroll deduction that will be used to reimburse the employer paid insurance premium?

There is not Two Separate transactions: "I realize these are two separate transactions."

 

The Payroll Deduction would be linked not to Liability; link it back into the expense account you already paid out of = internal reimbursement. There is no Check to write.

 

"I also want the total to reflect as an expense on my P&L."

As the Lower or Net of the two activities.

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