One of the operations we have to perform at least once a month where we have employees, will be the payroll accounting. Clients Circle Gazelle take us questions about these seats and the quantities which must reflect the accounts in each of their accounts.
The experience gained over the years in direct contact with customers Circle Gazelle has shown us that the best fastened to explain something is always graphically and clearly, so when payroll accounting, the seat make would be: should
By:
640. Salaries and Wages .- by the amount resulting from the sum of all elements of pay that we pay our employees.
642. Social Security in charge of the company .- by the amount the company pays for Social Security social insurance concept.
For having:
4751. HP Creditor .- withholdings in the amount that the company retains workers as income tax.
476. Social Security Agencies creditors .- by the amount of the bill 642 plus the portion of Social Security for the deductions made to employees.
465. Outstanding remuneration .- This amount must correspond to the liquid we pay to workers.
At the time of payment of payroll employees, we recorded the following:
465. Remuneration payable to 57x. Treasury
The main entry may include other accounts, if there are advances in our payroll, compensation or remuneration species, the allocation of these concepts would be made as follows:
- in the case of payments in kind add the following line to the main entry:
648. Remuneration in kind to 755. Income from personal services
- for payroll advances, added by having the main entry, the account 460. Advances of pay.
- If given severance seat would be a separate entry to read as follows:
641. Compensation 4751. Creditor HP
withholdings 465. Outstanding remuneration
and at the time of payment: 465. Remuneration payable to 57x. Treasury
How ever, from the Department of Management Gazelle Circle, I hope you find this helpful.
you soon.
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