Handling A SEP IRA Contribution?

SEP IRAs retirement plans similar to 401Ks except that the company makes 100% of the contributions. There are numerous requirements that are well documented elsewhere on the Internet, but I can' seem to find any assistance regarding how to handle SEP IRA contributions from a bookkeeping standpoint. It seems like there are two main scenarios:

* A SEP IRA contribution made for the current fiscal year
* A SEP IRA contribution made for the previous fiscal year

In the first case, my assumption is that I'd create a "SEP IRA Contributions" expense account and debit it for any contributions made for the current fiscal year. Is that correct?

In the second case, my assumption is that I should use a different expense account for contributions made for the previous fiscal year, maybe call it "Previous FY SEP IRA Contributions"

Am I even close here? Are there standard names that should be given to these accounts?