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It's Basically the Paid vacation to employee by employer monthly accrual is adjusted in the Accrued vacation account.
Accrued Vacation pay is the amount of Annual leave salary which has been earned by an employee and the amount which not had been paid. this is a liability for the company
Accrued vacation pay is the amount of vacation time that an employee has earned as per a company's employee benefit policy, but which has not yet been used or paid. This is a liability for the employer.
The amount owed to employees as of a specified date for the amount of vacation pay that has been earned but has not been taken. For example, the accrued vacation pay as of December, is the amount the employees have earned as of December, but have not taken as of that date. The employees might take the vacation time during or they might be paid the amount in.
Valued accrued over leave entitlement payable to the employee on completion of one year service as mentioned in the contractual agreement.
Accrued vacation pay is the salary on the unused vacations days accrued as per employees contract.
It is the amount of vacation time that an employee has earned according to company benefits program but yet to be received by the employee itself. It is the liability of the employer and to be dealt in the same manner.
When we prepare the final balance sheet we put the accrual account means Liablities . when we pay the vacation salary we debit the accued expenses.
