thread Re: Taxes and accounting in payroll in Archived Discussions (Read Only)

Taxes and accounting in payroll

readwithme — Thu, 13 Jun 2019 22:51:23 GMT

Hi!

In payroll, it looks like state and federal taxes are deducted together. What would be the best way to account for this? I was told that I should account for state tax liability and federal tax liability separately but it doesn't seem possible with the way that payroll deductions are done. Any thoughts or ideas?

Thanks!

Re: Taxes and accounting in payroll

Helen — Thu, 13 Jun 2019 23:07:00 GMT

Hi @readwithme! Unfortunately, we can't offer advice on how to itemize your journal entries within your accounting software. As it's really important to get taxes right, and they can certainly be tricky, I recommend reaching out to an accountant or tax professional if you haven't already!