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The Complete Idiot's Guide® To Accounting by Lita Epstein, Shellie L. Moore

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Posting Payroll

Whether or not you use an outside service to handle your payroll, when the payroll is complete you will receive a report that details the amount paid, the benefits costs deducted from the employee’s paycheck, the taxes deducted from the paycheck, and the net check given to each employee.
If you are handling payroll in-house, these numbers will either be generated by your payroll software (when the payroll is complete) or will be part of a spreadsheet you develop in order to make out your paychecks by hand. An outside payroll service will probably not give you a report with each pay period, but instead will submit a report at the end of each month to report payroll activity.
The only difference in your books will be whether ...

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