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Hi Laura,

Thank-you for that clarification. 
I am migrating over from Sage 50 and have a Vacation Accrued liability account with an active balance (that is a total of the outstanding vacation accrued by all employees).  If " there aren't any liability accounts that you'll see in the Chart of Accounts." for Standard Payroll, where does that balance show up in the Chart of Accounts?  
While it is extra-work to have to run an additional report to see my Vacation Pay liability, I still need to know where to put (or where Quickbooks puts) the existing balance on the account so that my books between Sage (old) and Quickbooks (new).

Is there a Payroll Option that does show the Vacation Pay in the Chart of Accounts.  It seems like an odd thing not to allow.