So, essentially the only way to properly account for vacation time earned in terms of the pay periods (not pay dates) is through general journal entries? (clearly tracked in either a spreadsheet or other means)

The payout of vacation time as of the pay date can be reduced from an accrued liability account that is also managed through  a) additions through general journal entries and b) other adjustments made manually through general journal entries, such as starting balances, etc. 

I appreciate your input.