employee payroll liabilities
I am working with a PEO payroll company. They pay the employee payroll liabilities. the $ amount comes out of the payroll company not sent directly to the government. When I break down the Salary expense and show the employee payroll liability what journal entry do you recommend so I can zero out the employee payroll liability for that pay period on the balance sheet.
Appreciate your help!
The liabilities are reduced/zero'd out, when the liability payment is made.
what are the correct journal entries to record payroll taxes?
maybe this will help me more
Debit Payroll tax Liability and Credit Bank