David Lund | August 26, 2019
When it comes to payroll we are not just paying the cash wages. We have additional dollars that are substantial in the form of supplemental costs and employee benefits. So, what we want to have are three areas we can see and analyze in our financial statements: Cash wages Auxiliary wage costs – “supplemental” Employee benefits Before I get into how to set these up and record them let’s define what needs to go into each bucket. Cash Wages They are by far the most straight-forward. They include wages paid because of work being performed to all hourly and salaried positions. I wrote two separate detailed articles on ho...
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