Yes you will assign this to the payroll liability accounts. I had to do this for my company too. In my balance sheet I noticed I have two payroll liability accounts for Guideline 401k Roth and Guideline 401k Traditional. So I went to my bank feed transaction and did a split on the transaction with appropriate amount going to payroll liability account for the 401k Roth and appropriate amount going to the 401k traditional payroll liability account. Then I accepted it. This created a $0 balance for these payroll liability accounts in my balance sheet. Quickbooks will automatically show your contributions as a business expense (if you decide to do a match) in your profit loss statement and no further action is needed