Define and Discuss on Payroll Liabilities

This article focus to Define and Discuss on Payroll Liabilities. Amounts owed to employees pertaining to work performed are documented separately from accounts payable. Expense accounts such as salaries or wages expense are used to record an employee’s gross earnings along with a liability account such because salaries payable, wages payable, or accrued wages payable is employed to record the world wide web pay obligation to workers. Additional payroll‐related liabilities contain amounts owed to third parties for any amounts withheld from the gross earnings of each and every employee and the payroll taxes owed with the employer.