Question

how do I setup a deferred compensation account

which account to debit, do it without debiting any account?

It sounds like you need to set up a liability account. It will not show up on your profit and loss but will show up on your balance sheet.

Thanks for replying. I did setup a long term liability account but it "demanded" an account to be debited. How do I set it up without the debit?

I'm not sure where the deferred compensation is coming from, you can post an example and I can try to help you figure it out.

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