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This question is about employer.
What is accrued payroll?
Accrued payroll is a term used to describe the amount of compensation a company owes its employees that are on payroll. Accrued payroll is shorthand for accumulated wages that are due to an organization's payroll employees.
When employees work for a certain number of hours for a company, and at a certain pay rate, this determines an organization's accrued payroll. It represents the amount of money an organization owes its employees for their time working. Accrued payroll can be a liability to a company if it is not paid within the designated or reasonable time frame.
Accrued payroll is recorded not only to reflect the actual amount an organization pays its employees, but to also identify the entire wage expense that a business has produced in a reporting period. Accrued payroll is normally recorded in a company's expense account. It is a debit to the wages expense account, and a credit to the accrued wages account.
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