G/L Probability Codes

This window is used as the first step in setting parameters for the calculation of Probability Factors for Long Service Leave only.

Prerequisites

  • No prerequisites

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.
  • In various states of Australia there are varying entitlements for Long Service Leave. Preceda handles this by using a link between the LSL Probability factor and the Leave Accrual methods.
  • This window allows for the setup of different codes that will have a unique Probability Factor record linked to one or many LSL Leave Accrual Codes.

Field Information

Enter a code (up to four characters) that represents the Probability Code.

Enter a description of the Probability Code.