Payroll in High Wycombe

 

It’s a fact of business—if a company has employees, it has to account for payroll and fringe benefits.

In this explanation of payroll accounting we’ll introduce payroll, fringe benefits, and the payroll-related accounts that a typical company will report on its income statement and balance sheet. Payroll and benefits include items such as:

  • salaries
  • wages
  • bonuses & commissions to employees
  • overtime pay
  • payroll taxes and costs
  • employer paid benefits
    • holidays
    • vacations
    • sick days
    • insurance (health, dental, vision, life, disability)
    • retirement plans
    • profit-sharing plans