Handling Employees Advances and Payroll Cost in Quick Books
Handling Employees Advances and Payroll Cost in Quick Books: How to Run Payroll in Quick Books? (When not using Payroll Module) Normally at the month end, accrual for salaries is recorded. When you pay salary to your employees first adjust advances and rest will be paid in cash. Accounting entries depends on your accounting method, either Cash or Accrual base. In case of Accrual base accounting make General Journal Entry. Follow the navigation: Go to à Company TAB à Make General Journal Entries Advance Against Salary entry: (Through General Entry/Write Check) Advance to Employees Against Salaries Account (Cr.) Cash/Bank Account (Cr.) Salaries Payable/Accrual Recording in Journal Entry Form Salary, Wages & Benefits Expense Account (Dr.) Salary, Wages & Benefits Payable Account (Cr.) Enter the name of Employee in Name column and Add description for the period of salary being paid. Payment Entry with A...