Sparkle101
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- May 30, 2009
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Payroll Expenses First Timer
- Thread starter Sparkle101
- Start date
Hard to tell what you're asking...plus hard to "navigate" through your post...
I see question: what is accrued payroll for period 5/21 to 6/5; but it's all there for you,
day by day, totalling 11,072.65 : so why ask?
Then something about property taxes for May...what's that got to do with payroll? :shock:
Hope someone else can help; I hear Mr Khan is a whizz at screwing up payrolls :wink:
I see question: what is accrued payroll for period 5/21 to 6/5; but it's all there for you,
day by day, totalling 11,072.65 : so why ask?
Then something about property taxes for May...what's that got to do with payroll? :shock:
Hope someone else can help; I hear Mr Khan is a whizz at screwing up payrolls :wink:
Sparkle101
New member
- Joined
- May 30, 2009
- Messages
- 10
We did not get an example of what to do, i know its all there but i don't know what to calculate or the formula of the calculation.
D
Deleted member 4993
Guest
Denis said:I hear Mr Khan is a whizz at screwing up payrolls :wink:
That could be a correct rumor. Since I do not sign any pay-check - I have the complete freedom to "screw-up" pay-roll.. :mrgreen:
Sparkle101
New member
- Joined
- May 30, 2009
- Messages
- 10
Please is there anyone who can help me, all i want is the formula and for someone to point me in the right direction.
Not if you can't ask something that's understandable.
I can't cook, so I send you this problem:
apples cost $3.25 for a dozen;
how long must I cook 3 of them, to make an apple pie?
What would you answer if you're a good cook?
Your problem statement(s) is a bit similar!
From what I remember of the boring accounting course I once took,
it seems you're trying to figure out a "month-end adjusting entry"
in order to more accurately reflect the month's payroll expenses.
There is no "formula" as such for this: the payroll expense G.L.account
has been either understated (like, up to 28th in a 30 day month) or
overstated (like, up to 2nd of following month).
So a "2day adjustment" has to be made, up or down depending on above.
Such a calculation is usually an in-house "guess", like averaging the last
complete pay-period; the "head accountant" usually steps in and does
some calculation intended to impress the junior accountants :wink:
I can't cook, so I send you this problem:
apples cost $3.25 for a dozen;
how long must I cook 3 of them, to make an apple pie?
What would you answer if you're a good cook?
Your problem statement(s) is a bit similar!
From what I remember of the boring accounting course I once took,
it seems you're trying to figure out a "month-end adjusting entry"
in order to more accurately reflect the month's payroll expenses.
There is no "formula" as such for this: the payroll expense G.L.account
has been either understated (like, up to 28th in a 30 day month) or
overstated (like, up to 2nd of following month).
So a "2day adjustment" has to be made, up or down depending on above.
Such a calculation is usually an in-house "guess", like averaging the last
complete pay-period; the "head accountant" usually steps in and does
some calculation intended to impress the junior accountants :wink:
Sparkle101
New member
- Joined
- May 30, 2009
- Messages
- 10
ok from what i understand no.(1) $11,072.65 and no. (2) $ 2,768.96 i do not understand no. (3) and what must i calculate for FICA - FUTA and SUTA