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Unregistered
08-01-2001, 08:33 PM
We are a startup and have not been getting paid all the time. We do our payroll externally- we don't use Peachtree for payroll. We want to account for the wages that are payable - how do we do this ???

Mike

westphal
08-02-2001, 09:44 AM
You would have to enter the amount of wages accrued each week as a credit in "Wages Payable" and a debit to "Wages Expense Account", through General Journal. Then when you actually receive wages you would debit "Wages Payable" and credit your cash account for the net pay and credit the payroll tax withholding accounts accordingly.

riscniaga
08-02-2001, 08:38 PM
do not use the journal entry method - this will mess up your AP reports - ie AP total does not tally with GL balance.

instead use the purchase task - if it is the same evey month then, you can even use the recur button - so that you do not need to key-in every month.