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ReportWe just started with HSA accounts. Prior to this we did not have them available in our health plan. My boss set up the HSA as an other current liability account. I believe the entry needs to look like this, but could use a second opinion:
Credit to cash for the amount deducted for the employer contribution
Debit to the Liability for the same amount
Debit to the Liability for the employee paid portion
What I need to understand is where would the opposing debit go? Is this typically put to payroll tax/ fringe benefits/respective employee labor accounts if there is not a specific HSA account designated for the labor categories?
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