Double Entry

by Eunice
(Manchester UK)

In double entry, why do we enter the wages paid by cheque into the credit section of the Bank Account and not the wages paid in cash.

Double Entry

by Deanna
(Chicago)

I've noticed I have been double entering a payroll check through General Ledger and Accounts Payable. The Direct Labor account was getting debited twice and the Accounts Payable account was getting credited twice. In order for the company to pay a net check out of bank account it needs to be booked out of checking account
( CR) and Debited into Direct Labor. When I write the check it gets posted as Debit Direct Labor Credit Checking. In order to post the direct deposits and gross income into the appropiate accounts I will need the net checks also to be in the spreadsheet that gets entered into general ledger once a week. How do I avoid the double entry into direct labor and accounts payable without offsetting the checking account?

Thank you
Deanna

Double Entry

by Owusu Tuffour Silas
(Ghana)

How will refund rate be shown in the double entry bookkeeping?

DOUBLE ENTRY FORMAT

DREW 500 POUNDS CHEQUE FOR CASH AND RECORDED IN CASH ACCOUNT.