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Where do I classify in Quickbooks Chart of Accounts employee

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payroll taxes that we've paid...
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: 1 year ago.Category: Tax
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Answered in 8 minutes by:
9/12/2016
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 year ago
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 714
Experience: Business Consultant/Accounting Manager
Verified

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.

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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 year ago

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

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ABC Accounting Group
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
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