Forum

Moving payroll paya...
 
Notifications
Clear all

Moving payroll payables to expense??

3 Posts
2 Users
0 Reactions
1,851 Views
(@002113049)
Joined: 5 years ago
Posts: 0
Topic starter  

This is something I've never come across, the previous bookkeeper/accountant makes a JE monthly debiting (reducing) the various benefits payables accounts and crediting (increasing) the company's benefits expense accounts. 

When we pay the benefits provider, why wouldn't we just reduce the payables and expense our portion when we write the check? Isn't this the company taking withholding as expenses as well as our portion?

Thanks

Kelley


   
Quote
MENU