"I am the only owner and have my wife on payroll as an employee."

Do you Work for the business? Because that means you also are an Employee. There is no Owner. You might be a Shareholder-Employee, or just Shareholder and do not do any work.

There is no such thing as Nonemployee if you Work for the company. This is a very costly error; I have attached some IRS wording for you. You still have time to Correct this before year end.

"The company will be makeing all of the contributions to the SEP.  I have been reading through some Q&A but can't identify what sort of expense account to set up to record these SEP contributions.  I have seen some say "Employee Benefits Expense" account but there is no such option in QBO chart of accounts."

Then add one, make a new expense account. The W2 needs to indicate "Covered by retirement plan" as well.

https://www.irs.gov/retirement-plans/operating-a-sep