Payroll arrears and other fun bookkeeping terms
What’s the difference between payroll arrears and falling into arrears? Payroll (or pay run) is the process of paying every employee on the roll (aka in your employ). In-arrears and in-advance simply describe whether the employee completes the work before or after payment. Advance: Payroll occurs before the employee completes the work. Paying in advance is popular with employees and can be a good hiring incentive. Arrears: Payroll occurs after… Read more