Payroll Journal Entries Examples?


Payroll journal entries are important for both the business owner and employee to have on record. The business owner should keep track of all expenses and deductions that are being made concerning their workers. The employee should keep record of all their payroll stubs and information associated with it for tax purposes. The self employed person should also take care to do these things as this information will also be needed for tax season. You can find examples of payroll journal entries on the website.
Q&A Related to "Payroll Journal Entries Examples?"
1. Create headings for the payroll journal. Typical headings include date, account type, debit and credit. 2. Enter total salaries and wages—the employees’ gross amount
debit to payroll expense. credit to accured payroll.
Tim: Very good question. Let's assume that the company is withholding cash to compensate the company for employee use of automobiles owned and operated by the company. If that is
You are correct for the employees entry. The expense would be the total amount the employer is paying. The only thing I would change is that you really should separate Social Security
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