G/L Parameter % To Be Posted

This window is used to set parameters for the calculation of an inflation rate value for Annual, Sick and User Defined Leave only.

Prerequisites

  • To use this option, setup records for every Leave Classification other than LSL that is used by your company that will calculate liability by this method. If a record is missing, calculations will not be done at all for the particular leave type.

Rules and Guidelines

  • The parameter is part of the setup to calculate leave liability for Accounting Standard AASB119. If leave liability calculations are to be done by this method, all 5 of the parameters windows must be completed, or this process will not be performed and no leave liability calculations at all will be done.

Field Information

Select the Leave Classification (e.g. S - Sick Leave , V - Annual Leave).

A rate percentage is applied to the liability value before it is posted to the General Ledger.