Navigating the myriad costs associated with running a small business can be daunting, from overheads like rent and equipment to the variable costs of office supplies. A significant and often complex aspect of these expenditures is payroll. The addition of each new team member not only increases the workforce but also the payroll expenses. But what exactly falls under the umbrella of payroll expenses, and how frequently do these costs accrue?
Dive into our 2024 guide on payroll expenses tailored for small businesses to gain a deeper understanding of these costs. This guide will elucidate what constitutes payroll expenses, help you calculate your total payroll costs, and instruct you on recording these figures in your financial journal entries.
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