One financial accounting method businesses use is the payroll journal entry. Payroll journal entries record your ... These may include federal and state income taxes, federal unemployment tax (FUTA), ...

It's posted as part of the adjusting journal entries at month's end. Accrued interest is reported on the income statement as a revenue or expense depending on whether the company is lending or ...

Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income ... An accrual, or journal entry, is made ...