What Do Payroll Liabilities Include?

by | Jun 16, 2022 | Bookkeeping

Filing payroll taxes is mandatory for all employers, and you must contribute these taxes for every worker you hire. Wages compensate employees for work they’ve accomplished during a pay period. You’ll determine how often to run payroll; these pay periods can be daily,...

Study tips: Ways to balance a T account

by | Dec 24, 2021 | Bookkeeping

Accounts Payable has a debit of $3,500 (payment in full for the Jan. 5 purchase). You notice there is already a credit in Accounts Payable, and the new record is placed directly across from the January 5 record. It is a good idea to familiarize yourself with the type...