Vacation Accrual Journal Entry

Vacation entitlement which has been earned by an employee but has not been taken by the end of the accounting period, represents a liability to the business. The liability is recorded using a vacation accrual journal entry.

Vacation Accrual Journal Entry November 6th, 2016Team
Read more

Unpaid Wages

Unpaid wages are wages which have been earned by an employee during an accounting period but which remain unpaid at the end of the accounting period.

Under the accruals basis of accounting an adjusting entry needs to be made to provide for the unpaid wages based on the hours worked and the wage rate.

Unpaid Wages November 6th, 2016Team
Read more

Payroll Accounting

Payroll is the aggregate expenditure on wages and salaries incurred by a business in an accounting period. It can also refer to a listing of employees giving details of their pay.

Payroll Accounting November 6th, 2016Team
Read more