Sorry, I work in tax and my mind always rolls that way. I’m going to apologize for any further confusion in advance

The SEP is technically a personal expense for the owner, in this case you. If you have employees in the future, any retirement contributions paid on their behalf would be a business expense.

The more I think about it, it should be classified as

debit: Owner Draw Credit: cash.

The business can absolutely pay the SEP on your behalf but is not entitled to the expense because it’s reported elsewhere when you go to file your taxes.

Your accountant will thank you for doing it this way (I know I would appreciate it). just be sure to let them know the amount of the SEP so they can put it on the correct spot on your return.

At the end of the day, the bottom line works out the same, the presentation of it is just different.