I am getting confused over how to accrual payroll. I'd appreciate it if someone can confirm what I"m doing is correct.
To clarify:
PR ending 6/27 = $100 (actually paid on 7/3)
Stub Accrual 2 days 6/29 and 6/30 = $40 (paid on 7/8)
I am accruing $140 in June (100+40). Then, July payroll ending 6/27 will be included in July along with the 2 days of the next week.
So, the specific question is really about the PR ending 6/27. I am accruing the $100 in June, and then reversing it in July, and then booking the $100 payroll in July.
Is this correct?
Thanks.