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    QB484's Avatar
    QB484 Posts: 7, Reputation: 1
    New Member
    		  
    #1

    Feb 8, 2011, 01:26 PM
    Accrual
    We started a new set of books in January, I accrued the Bonus pay in January, which will be paid in February, do I reverse the January entry in February
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Feb 8, 2011, 02:33 PM

    Debit Bonus Payable for the amount
    Credit Cash for the amount
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