I’ve spent a lot of time over the last 20 years helping people clean up financial messes. The messy mess (the smelly smell for Sponge Bob fans) is payroll.
Payroll entries are complicated. There is the expense to you and the cash requirements and the amount you withhold, then submit, for payroll taxes for you and the employee. Add in reimbursements, advances and garnishments and, well, before you know it…it’s a mess. Here are a few tips for getting your Payroll accounts to right, and for staying current and accurate. […]