This is National Payroll Week, so that can only mean one thing:
I need a milk shake! I have to go to the dentist this week and
it is a tradition in my family to top off a trip to the dentist
with a milk shake, and (I'm stretching here to find a
connection, bear with me) since National Payroll Week
represents a tradition of sorts, there should be some sort of
commemoration of the event, so why not a milk shake? Or not.
In any case, when we accountants think of National Payroll
Week, we think of adjusting our W-4 before the end of the year
to maximize our take-home pay and minimize our tax refunds. Or
we think about who we know who is lucky enough to climb over
the ever-higher Social Security ceiling. Or we think of all the
work that's ahead of us in January. That's almost as nice as a
Gail Perry, CPA
Accounting and Finance Policies and Procedures
by Rose Hightower
Rose Hightower, Accountant, MSc, has been the owner of IDEAL Consulting Solutions International, LLC for ten years, consulting in implementation of internal control and policy and procedure programs for large companies. Bringing over twenty years of experience from IBM and serving as finance manager, her program contains practical lessons and simple solutions for any size company. She is known as "The Policy Guru" and offers advice and counsel to clients from her Web site, idealpolicy.com, and through auditnet.org.
Questions & Advice
Tenant Improvement Credit/Allowance
Our landlord gave us a Tenant Improvement allowance in the form
of a credit not cash. Should this be included in my Deferred
Rent schedule or should that be booked as a separate entry?
Share your suggestions today!
A reader would like to get some clarity as to when to classify
a transaction as "Deferred" vs. "Prepaid." For example, when do
you use "Deferred Rent" vs. "Prepaid Rent?"
Add your input!