Post by MS INYOFU (@theconscience)

ACCOUNTING HINT

Mistake: Posting only net salary

Correct: Split payroll into salary + all deductions

Month-End Posting:
Dr Salary Expense
Cr Pension Payable
Cr PAYE Payable
Cr Staff Deductions (Penalties/Loans)
Cr Salary Payable (Net)

When Paying:
Dr Salary Payable
Cr Bank

Do you separate all payroll components in your posting?

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