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Page References

Incoming links Outgoing links
GENERAL LEDGER ACCOUNTS
GENERAL LEDGER ACCOUNTS

Version management

Difference between version and

At line 90 added 30 lines
;:''For example:
;:''The pay period of 2004-12 (fiscal 2005-04) needs to make an accrual for the 13 calendar days of March that falls into pay period 2004-14 (March 19- April 01) (fiscal 2005-05).
;: ''The system performs the following calculations:
;:''Mar 19-31 = 13 days = 92.86% of a 14-day pay period
;:''If the Payroll wage expense for pay period 2004-12 is $1000.00, then the accrual is calculated as $1,000.00 * 92.86% = $928.60.''
\\
The Payroll Journal Entries Report ([RPGL]) will indicate the following:
;:2005-04 Accrual G/L Report
|__Account__ |__Debit__|__Credit__
|Accrual Clearing| | 928.60
|Wages| 928.60|
| |928.60| 928.60
;:2005-05 Accrual G/L Report
|__Account__ |__Debit__| __Credit__
|Accrual Clearing| 928.60|
|Wages| | 928.60
| |928.60 |928.60
;:2005-05 Payroll G/L Report
|__Account__| __Debit__ |__Credit__
|Wages| 1000.00|
|Deductions| | 450.00
|Contributions| 375.00| 375.00
|Net| | 550.00
| |1375.00| 1375.00
!!Inter-Company G/L Logic
There are several account usages (lexicon [X_ACCOUNT_USAGE]) that need to be set up in order to facilitate inter-company accounting:
This page (revision-34) was last changed on 26-Nov-2021 10:22 by JAikenTop