General
Accruing Employee Overtime
Recording extra hours worked by staff that will be paid in the following month's payroll.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Overtime Expense | Expense (+) | 350.00 | - |
| Accrued Wages | Liability (+) | - | 350.00 |
💡 Accountant's Note
If employees work overtime in the last week of December, the expense must be recorded in December, even if the paycheck is issued in January.
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QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.