The payroll expense section in the "profit and loss detail" changed to gross pay only and does not show net pay.
Previously when we looked at profit and loss detail, the payroll expense deducted all tax deductions and only showed net pay. Then something happened and it only shows gross pay.
The payroll expense section in the "profit and loss detail" changed to gross pay only and does not show net pay.
They aren't an expense. Let's say you pay someone $500 gross -- that is payroll expense. The deductions for federal & state income taxes and fica & medicare are posted to payroll taxes payable (a liability account).
The payroll expense section in the "profit and loss detail" changed to gross pay only and does not show net pay.
That is what i've been reading through my research, but previously before today, it did add tax deductions before. It always showed the net pay instead of the gross pay previously.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
