To record wages, you should first list the components of employee salary in the form of a general ledger. Social security tax is one of these components. Payroll Clearing Accounts and Balance Sheets.

Look at the transaction you plan to record in the general ledger. Turn to the section in the ledger under which the transaction falls. Your ledger should have a section for each type of transaction.

These entries from their specific accounts form the General Ledger, from which users can derive other reports, such as the income statement. To use Excel to create a General Ledger from General ...