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    diylim528 Posts: 1, Reputation: 1
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    Sep 12, 2016, 06:59 PM
    Recording date for payroll
    A company is using accrual basis accounting but for journal entry, it records payroll by expensing it on pay date on a semi-monthly basis (25th-10th paid on 15th and 11th-31st paid on 1st of every month). Should the date of recording the payroll on the 1st and 15th as well or should it be 10th and 31st for the period since the wage expense has already incurred in the period and not in the 1st of next month.

    Can accrual and cash basis be used this way?

    Thank you in advance.

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