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ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 610
Experience:  Business Consultant/Accounting Manager
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Where do I classify in Quickbooks Chart of Accounts employee

Customer Question

Where do I classify in Quickbooks Chart of Accounts employee payroll taxes that we've paid. For example Intuit does our payroll and the amount they deduct via ACH excluding wage for payroll taxes would be classified where?
Submitted: 7 months ago.
Category: Tax
Expert:  ABC Accounting Group replied 7 months ago.

Hi. Great questions. Debit wages for the gross amount, credit cash (wages, less employee payroll taxes), and credit to payroll taxes payable (employee payroll taxes). When paid via ACH, it is a credit to cash, debit to payroll taxes payable account.

Expert:  ABC Accounting Group replied 7 months ago.

If you have any questions, let me know. If not, a positive rating is very much appreciated. Best Regards.

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