October 30, 2016 admin

Payroll Taxes

Expenses

PAYROLL TAXES EXPENSE ACCOUNT
8100/8105/8106

ACCOUNT EXPLANATION
Taxes on employees’ earnings including the employeer’s share of FICA tax, federal unemployment tax, and state unemployment tax.
TRANSACTIONS
  Jrnl. Dr. Cr.
  Monthly accrual of employeer’s portion of FICA tax SE
    Payroll Taxes 8100
    Payroll Taxes—Service—QL/FL/QCSC 8105
    Payroll Taxes—Parts—QL/FL/QCSC 8106  
      FICA Taxes Withheld & Payable 2140
COMMENTS
  • For departmentalization purposes, payroll taxes related to employees of operating departments should be distributed to the applicable department. Payroll taxes of employees whose salaries are not chargeable to operating departments should be charged to Unapplied Expenses. See Departmentalization for further information.