How to record IRA contribution expense in BC

Hi, I would like to know how to record SEP IRA contribution as this is a business expense. From what I understand Business owners can completely deduct SEP-IRA contributions as a business expense.  Does it makes sense to record this expense in the books? If so, what's the best way to do this.  I am thinking like, have a contributions payable (liability) account and expense accounts related to this?  Or should we deduct this contributions at the time of filing individual (owner) tax 

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