Ask Experts Questions for FREE Help !
Ask
    pankaj_t@msn.com's Avatar
    [email protected] Posts: 2, Reputation: 1
    New Member
     
    #1

    Apr 2, 2010, 04:25 PM
    I am having diff in payroll summary and income statement
    My payroll summary for year end do not tie to payroll expense on p&L
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
     
    #2

    Apr 2, 2010, 10:48 PM

    Whatever you do you must bring them to agree.
    Payroll and taxes are usually
    Reported to the Taxation Authorities.
    You are obliged to use the figure you reported as being the accurate figure.
    It would be necessary at close to get the profit and loss figure to agree.
    Make certain that you are comparing like for like as regards to the accounting period.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Payroll and Payroll Tax Expense on an Income Statement [ 2 Answers ]

Is the payroll expense on the Income Statement the gross amount of payroll? What I have seen so far is that it is the gross amount and then the payroll taxes are also listed. Isn't it doubling the amount of expense for the payroll taxes? Thanks for your help!

Recorded amount of Payroll on an Income Statement. [ 1 Answers ]

Shoot I messed up my question. So I will ask again. Is the gross amount of payroll listed on the income statement? I am confused because that contains the employee withholding taxes and is paid by the employee and not the company. Please help. Thanks.

Where do you put the income summary on a income statement [ 1 Answers ]

I am working on a project for school and I am at a lose on where to put my income summary. My choices are either under cost of goods sold, selling expense, or Gereral and administrative expenses. Can someone please help?? :confused:

Does the Income Summary Balance go to Income Statement [ 3 Answers ]

I am doing a 10 column worksheet and I have a credit $ amount in the Income Summary account in the Adjusted Trial Balance. Do I move that to the Income Statement or the Balance Sheet section of the worksheet?


View more questions Search