Hi everyone,

My company is having a refund from WSIB due to last year reconciliation. For some reasons the refund wasn't issued and staying in the account balance. We decided to not receive the refund and instead using it to pay off the latest month premium and just pay out of our bank the amount left after that. Having the idea of how to capture this in my mind but not sure if it's the right direction for that. Here is what I'm having in my mind right now:

DR: WSIB Payable: XXX

CR: Mis Revenue.            XXX

With this my wsib expense for the month wouldn't change at all as what it does if i post it as a credit for a vendor (I want to leave it for the accountant to decide to have it showed in the expense account or not) but i can still bring the amount i have to pay for wsib in wsib payable account down. 

Any advice or help would be much appreciated.