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Posting payroll entries
Asked May 5, 2007, 06:22 AM
Can someone send me an example of how I should record (sample journal entry) payroll for a manufacturing company that uses job costing. We have direct, indirect and administrative labor. Should I post direct labor to an expense acct "direct labor expense" or should I post the direct labor portion to the balance sheet directly to "direct labor inventory"?
I'm setting up a new ERP system that needs me to predefine defaults accts when the item is sold for direct labor.
Any assistance is greatly appreciated...