Taxable Benefit

Question

I realize there have been some questions posed before but I am not quite sure they answer my question. 
 First Part: 
 The company has a pre-auth deduction of $700 from the chequing account for a premium they pay for group insurance. From the bank statement I planned on posting the entry to CR chequing | DB Employee Group Benefits 5000 acct. However, $25 of the premium represents 2 items that are a taxable benefit for the employees. Should I be posting this to Wages & Salaries or is the new account better? Should I be posting the full $700 to this account? 
 Second Part: 
 I need to show Life Ins and AD&D on the pay stub for cpp & federal tax calculations. In payroll settings I setup 2 additional benefits, 1 for each to keep them separate. I planned on linking them to the Employee Group Benefits 5000 Expense account, (not Wages & Salaries). However, it would appear that $25 of the premium would now be a duplicate post. W hat am I doing wrong? Is there are work-around? 
 Thank you.

Smith and Co · Accepted Answer

You do not need to link taxable benefit to anything or create new benefit lines if the employees are not paying any portion of the premium from their paychq. 
 All you need to do is enter 25.00 in the 'Benefit' line. Sage 50 will add 25.00 to income, calculate the taxes, then deduct 25.00 from income automatically. Go ahead with posting the full 700.00 amount to your Employee Group Benefit 5000 Acct. You can let your employees know that the taxable benefit amount is for the Life and AD&D portion of benefit plan so that they know what is happening.

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