accountant, Expense Reimbursements and tax preparation

This Shady Chattanooga Accounting Firm Just Went Down in Flames and Still Owes Staff Months of Pay

Going Concern

SEPTEMBER 15, 2023

Chattanooga Times Free Press has written quite the story about legacy accounting firm Croft & Frost abruptly laying everyone off earlier this week after months of issues making payroll. The post This Shady Chattanooga Accounting Firm Just Went Down in Flames and Still Owes Staff Months of Pay appeared first on Going Concern.

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Errors in Posting Payroll

SMBAccountant

NOVEMBER 17, 2021

You would post the net pay to a labor expense account and the payroll taxes to a payroll expense account. This is incorrect and causes labor to be understated and taxes to be overstated. Reimbursement expenses need to be posted to the expense account that properly reflects the expense.

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Accountant Advocate

This Shady Chattanooga Accounting Firm Just Went Down in Flames and Still Owes Staff Months of Pay

Errors in Posting Payroll

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