Payroll
I use third party to do the payroll. Should I make JE to record payroll? And should I use the gross amount instead of net amount for the Salary Exp. account?
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d-Ve3QWQar3QjyacfA8pyY
10/26/09 7:33pm PDT
Viewed by asker 10/27/09 9:42am PDT
Viewed by asker 10/27/09 9:42am PDT
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jrjames
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Questions answered: 229
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You may need to make several journal entries to record payroll. (1) debit wages credit cash or bank to record net (2) debit wages credit the applicable payroll liabilites account for amounts withheld (3) Debit payroll tax expense and credit applicable payroll liabilities for company portions of FICA and other taxes paid by company.
