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Nonpersonal channels of communication include:
Salaries Payable
An account that represents the amounts owed to employees for work performed that has not yet been paid.
Salary Expense
The total amount paid by a business to its employees for the work done over a specific period, often monthly or annually.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
Current-Year Net Income
Current-Year Net Income is the total profit or earnings of a company for the ongoing fiscal year, after subtracting all expenses, taxes, and costs.
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