Hi
I know you add wages, leave loading & super in the calcs for 'record salary accrual at year end' general journal. Should the entry be just one total or should you enter the super amount on a separate line (both debit & credit)?
Thanks
Debbie
What's the purpose of the journal entry? Why are you recording wages earned but not yet paid?
Zappy
Hi Zappy
Last pay in 2024 was 27/12/24, but for the audit we have to add a GJ to account for two days of wages (hol pay) for Mon 30th Dec & Tues 31/12/24. pay for these two days fell into next pay cycle on 10/1/25.
Deb
I love the phrase "it's not material" but otherwise just a total amount against Payroll expenses debit and credit Accrued Expenses and reverse it on 1/1/25.
You can break it up into wage, leave & super if you want but I wouldn't bother
Hi Charley
Thanks for that. very helpful.
Agree Charley
Seems pointless
Kr
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