Payroll accruals are sums that your business owes to workers for hours they have worked. Because few companies pay employees immediately, there is usually a lag time between the end of a pay period ...

Have you ever started to review your financials at the end of the month and noticed that labor and wages are really, really high? What was the reason? If the answer was that you were coming to the end ...

Discover when businesses must use accrual accounting and how it differs from cash accounting. Learn why it's essential for inventory and credit sales.

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

What Is a Payroll Account? Your email has been sent Discover what a payroll account is, its importance for businesses, and how it simplifies processes like salary deposits, deductions, taxes, and ...

While lots of HR vendors have ‘fast’ implementation methodologies, there’s still one area that takes a lot of work and often gets shortchanged in the implementation: payroll’s interface/integration ...

There are a number of deductions that will occur from most employee’s compensation. Among these are applicable federal and state income taxes. Social Security deductions are also taken from each ...

A payroll clearing account is a zero-balance account that companies use to record and monitor their payrolls. A zero-balance account is one in which no funds remain once all checks have cleared. The ...