debit payroll expenses
credit cash / bank
debit payroll taxesCredit cash
debit to payroll expense credit to accured payroll
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
a journal entry must include atleast one debit and one credit account to be a legal journal entry.
if journal entry is misclassified to some other account then it is required to re-classify the journal entry for correct impact or record purposes.
debit payroll taxesCredit cash
Debit payrollCredit cash / bank
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
debit to payroll expense credit to accured payroll
To record payroll for month end: D R Payroll Expenses CR Cash CR 401 Payable To pay 401k plan DR 410k Payable CR cash
A journal records what you're findings are
You record he credit entry for transaction (a) 5/1 in the journal as
To record a journal entry in QuickBooks, go to the Company menu, select Make General Journal Entries, enter the date and journal entry number, choose the accounts to debit and credit, input the amounts, and save the entry.
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
a journal entry must include atleast one debit and one credit account to be a legal journal entry.
if journal entry is misclassified to some other account then it is required to re-classify the journal entry for correct impact or record purposes.