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How does the employer matching contribution get recorded on the employee's W-2?
Wiki User
∙ 15y ago
Isn't the W-2 field showing the full contribution paid over, not just withheld from the employee? It is all recorded at the IRS, under your SS#, and when you report the amount of SS income in that field, (which is different than other taxable income fields), the computers check to see that the correspondingly needed total amount of contributions were made for that. Most all the employer filing is electronic...and even all but the smallest employers have to ecen pay the contributions over (frequently even before you get your pay check) through a very automated system too.
Wiki User
∙ 15y ago
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The matching concept requires expenses be recorded in the same period that the related revenue is recorded?
true
What does the matching principal require?
requires that all credit losses be recorded when an individual customer cannot pay
When are expenses recorded in accrual accounting?
Accrual Accounting utilizes the "matching principle," which states that expenses are recorded generally when the corresponding revenue has been earned to the extent that it is possible to do so.
The matching principle matches?
The matching principle in accounting is meant to ensure that all the expenses of a business should be recorded in the very period in which they are accrued. This prevents confusion where payments are done in a period much later than the accruals.
Economic event that is not a business transaction?
There is a plethora of "economic events" that are not (necessarily) business transactions. A supervisor taking his/her employees to lunch on his own dime is not a business transaction, but it obviously affects (and is often affected by) the economy. If what you mean by this is to list economic events that are not recorded by the bookkeeping process, then the answer might be a little more specific. Hiring of employees is not recorded on the general ledger. Promoting or giving raises to those employees would not be recorded as such on most general ledgers (although the "salaries payable" column will obviously be affected by such an economic event).
How does the employer matching contribution get recorded on the employee's W 2?
Isn't the W-2 field showing the full contribution paid over, not just withheld from the employee? It is all recorded at the IRS, under your SS#, and when you report the amount of SS income in that field, (which is different than other taxable income fields), the computers check to see that the correspondingly needed total amount of contributions were made for that. Most all the employer filing is electronic...and even all but the smallest employers have to ecen pay the contributions over (frequently even before you get your pay check) through a very automated system too.
If an employee's CPP contribution?
If an employee's CPP contribution is missing from their paycheck, they should contact their employer's HR or payroll department to rectify the issue. It is essential to ensure that all deductions, including CPP contributions, are accurately recorded and deducted according to government regulations.
The matching concept requires expenses be recorded in the same period that the related revenue is recorded?
true
Why is it necessary to have an accident record book at work?
In the UK an employer is required by law to keep an accident book - all accidents to employees should be recorded in this book. See the link below to see all the records an employer should keep when an accident at work occurs.
What does the matching principal require?
requires that all credit losses be recorded when an individual customer cannot pay
How many employees do Cadburys have?
the last time this was recorded in 2008 it was 71,657
When are expenses recorded in accrual accounting?
Accrual Accounting utilizes the "matching principle," which states that expenses are recorded generally when the corresponding revenue has been earned to the extent that it is possible to do so.
The matching principle matches?
The matching principle in accounting is meant to ensure that all the expenses of a business should be recorded in the very period in which they are accrued. This prevents confusion where payments are done in a period much later than the accruals.
Who was king Hammurabi and what was his crucial contribution to society and where do you see his ideas reflected?
He invented the first recorded code of laws.
Why is it difficult to record the contribution of the informal sector to the GNI?
coz none of the financial activity in this sector is recorded by the govt.
Why can you not sign your answers on Answers.com with your name?
This is a community effort. Answers are not 'owned' by anyone, they are a collaborative answers with many contributors. Your contribution is recorded.
Economic event that is not a business transaction?
There is a plethora of "economic events" that are not (necessarily) business transactions. A supervisor taking his/her employees to lunch on his own dime is not a business transaction, but it obviously affects (and is often affected by) the economy. If what you mean by this is to list economic events that are not recorded by the bookkeeping process, then the answer might be a little more specific. Hiring of employees is not recorded on the general ledger. Promoting or giving raises to those employees would not be recorded as such on most general ledgers (although the "salaries payable" column will obviously be affected by such an economic event).
