Understanding Benefit Liabilities in GoCo's Payroll System

In GoCo's payroll system, benefit deductions are withheld from employees' paychecks during each payroll run. These withheld amounts, known as benefit liabilities, remain in the employer's account until the employer remits payment directly to the respective insurance carriers or benefit providers. GoCo does not process these payments on behalf of employers.​

Accessing the General Ledger Report

To monitor benefit liabilities, you can access the General Ledger Report in GoCo. This report provides a detailed breakdown of all payroll-related transactions, including benefit deductions. Click here for a step by step process on how to access the payroll journal. 

Identifying Benefit Liabilities in the Report

In the General Ledger Report, benefit liabilities are listed under the "Employer Benefit Liability" section. This section details the amounts withheld from each employee's paycheck for various benefits. These amounts represent the funds that the employer needs to remit to the respective benefit providers.

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If you have further questions or need additional assistance, please contact GoCo's support team, or reach out to your dedicated client success manager.