Are you Spending Too Much Time with your General Ledger Payroll Journal Entries ?
What is a Payroll Journal ?
A payroll Journal is used to record the payroll transactions into the General Ledger. These transactions include what is paid to each employee along with the taxes withheld for Revenue.
Payroll journals can be complicated, every transaction has at least two accounts, while one account is debited, the other account is credited. This means that a journal entry must have equal debit and credit amounts. Transactions may be charged to a single account or charged to an account for each department. This can be very time consuming and open to error.
At Hermitage Payroll Services Ltd we can generate a file at the end of each payroll period that can be automatically uploaded into your accounting system in Seconds and eliminate input error.
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