The Differences in Wages Payable & Wages Expense
Accrued revenue covers items that would not otherwise appear in the general ledger at the end of the period. When one company records accrued revenues, the other company will record the transaction as an accrued expense, which is a liability on the b...
Employment Law 101: Accounting for Vacation Pay
For example, company policy might provide that an employee earns one vacation day per month or a certain number of hours per pay period. Some companies impose a waiting period before new employees may begin accruing vacation time. And some companies ...
Accrued expenses
Accrued salaries refers to the amount of liability remaining at the end of a reporting period for salaries that have been earned by employees but not yet paid to them. This information is used to determine the residual compensation liability of a bus...