How to Account for Employee Payroll and Deductions

In this video, we cover how to account for employee payroll and deductions. We follow an employee's gross pay through related federal and state deductions including FICA Social Security Taxes and Medicare Taxes Payable and other taxes. We review the salaries expense journal entry and how to record the net payment to an employee.

Jonathan M. Wild
www.wildaccounting.com

#accounting #accountingbasics #accountingstudent #financialaccounting #payroll