United Way payable

United Way payable is the name of an account used to record all payment obligations to the United Way charity that have not yet been paid. The amount in this account is comprised of all deductions from employee pay that have not yet been forwarded to United Way, as well as any amounts owed by the organization. These latter amounts are frequently matching funds that the entity has promised to pay that accompany employee contributions. The account is classified as a current liability, since it is always payable within one year.

Related Courses

The Balance Sheet