Monday, May 12, 2008

Employee Payroll Journal Entries

When debiting employee payroll expense, accountants muse debit the appropriate accounts with correct journal entries.

Example Accounting Journal Entry for Employee Payroll Deductions:

Jan. 31 Salaries Expense 4,200
FICA - Social Security Tax Payable 248
FICA - Medicare Tax Payable 58
Employee Federal Income Tax Payable 420
Employee Medical Insurance Payable 148
Employee Union Dues Payable 200
Accrued Salaries Payable 3,126

External Links:
Accounting Payroll Tutorial
Payroll 101

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The information on this site is for informational purposes only and should not be used as a substitute for the professional advice of an accountant, tax advisor, attorney, or other professional.