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A payroll expense is an expense for an employee of a business. It is what is used to pay the workers in a company or organization.
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Does payroll Expense have a credit or debit account?
Payroll expense is a nominal account and as it is expense account so like all expense accounts it also have debit account.
What is the journal entry for accrued payroll?
debit to payroll expense credit to accured payroll
Is temporary employment considered a payroll expense?
no
What is the journal entry for payroll tax?
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
What would a journal entry to record the payroll include?
debit payroll expensescredit cash / bank
Does payroll Expense have a credit or debit account?
Payroll expense is a nominal account and as it is expense account so like all expense accounts it also have debit account.
What is the recording entry of payroll?
Debit payroll expense credit cash account
What is the journal entry for accrued payroll?
debit to payroll expense credit to accured payroll
Is temporary employment considered a payroll expense?
no
What is the journal entry for payroll tax?
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
What would a journal entry to record the payroll include?
debit payroll expensescredit cash / bank
What is a business's biggest expense?
Generally, the largest expense of business organizations is payroll. That will have to be qualified depending on the specific industry being discussed.
What is the jounal entry to after-the-fact payroll where all taxes have been paid?
Debit - Payroll (Wages) - for the amount of the total gross wages. Debit - Payroll Tax Expense - for the amount of the EMPLOYER taxes. Credit - Cash
Where do you deduct payroll taxes on form 1120?
Payroll withholding is NOT an expense to the Company...it is part of payroll that you send to the IRS/State rather than give to the employee...although the cost of it is his salary. Other payroll costs are recorded as what they are..insurance, employee benefits, etc.
Wages belong to which expenses?
Wages Payable, or Payroll Liabilities. Also, classifies as Capital Expense.
How do you put the payroll on a balance sheet?
Payroll expenses account goes to Profit & Loss account while Payroll payable is a Balance Sheet Liability item... Journal entry:Payroll Expense Account - DR ...........(P&L)Payroll Payable Account - CR ............(B/S)
Is global expense a good program to use for payroll?
Global expense is a brilliant ideal that uses a logical remedy for large global companies. Having a headquarter that handles payroll from one large branch will cut expenses as well as alleviate unforeseen problems, this ideal is phenomenal.
