CAPS ACC 10 TERM 2 WEEK 2 – 3 Salaries and Wages Journal

TOPIC – Salaries and Wages Journal

Explanation, calculation and recording of salary and/or wage scales and payments in the journals and post to the ledger; this can be done manually or on a computerised spreadsheet.
• Normal time
• Overtime
• Deductions
– PAYE
– Pension fund
– Unemployment Insurance Fund
– Medical aid
– Union membership
• Employer contributions
– Pension fund
– Unemployment Insurance Fund
– Medical aid
– Skills development levy
Accounting equation
Ethical conduct related to salaries and wages, e.g. contracts, payment in line with responsibilities, role of unions

Questions