Payroll Accounting: Payroll journal entry, Accruals, and reversals
Автор: Professor Sabine D'Amico, CPA, CMA, MBA, CSSMBB
Загружено: 2024-10-08
Просмотров: 1350
The topic of payroll journal entries is important because it ensures accurate recording of payroll expenses, liabilities, and taxes, facilitating proper financial reporting and compliance with accounting standards. Understanding payroll journal entries also allows businesses to track expenses, analyze costs, and make informed decisions regarding workforce management and budget allocation.
In this video, you'll learn how to properly understand the information on the payroll register, transfer the information to journal entries and balance the journal entries. Finally, you'll learn how to post the payroll journal entry. These detailed steps are important for you to understand, and you will need to be able to apply this knowledge in your homework and the unit exams.
Ask yourself: Are all of the steps clear? In what area do you need more practice?
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