Payroll Journal Entry Template Canada. A payroll advance journal entry is used when a business wants to give an employee a cash advance of their wages. Next, we need to fund payroll.
It generally includes an effective date, a debit amount, and a credit amount.
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The first entry would look like this. The next step is entering journals. Journal entries are used in accrual accounting to record payroll expenses that have been incurred, at the time the expense becomes payable.
