Labor Distribution & Payroll Journal Entries

Labor distribution converts hours into dollars and distributes those dollars throughout the GL and across jobs. Payroll journal entries record the employer's portion of employment taxes and offset salaries payable created by the labor distribution process. Both are necessary for the accurate calculation of indirect rates for government contracts. Errors often include failure to segregate labor accounts and properly account for employee deductions. Reimbursement of employee expenses through payroll adds another layer of complexity to the process as expenses often get erroneously recorded as labor. In this webinar we'll show you how to perform labor distribution using QuickBooks Desktop Manual Payroll, how to identify common errors, and we'll share our free payroll journal entry template.

Learning Objectives

• Describe the labor distribution process.
• Explain key components of payroll journal entries.
• Identify common mistakes with labor distribution and payroll.

Left Brain Professionals is the registered sponsor of this event.

Left Brain Professionals Inc is registered with the Ohio Board of Accountancy (license CPE.445) as a sponsor of continuing professional education. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the Ohio Board of Accountancy through its website: https://elicense.ohio.gov/oh_filecomplaint.