G/L Equalisation Percentages

This screen is used to nominate the number of weeks in a month for the calendar year and optionally set the Equalisation percentage required for each month.

Prerequisites

  • No prerequisites

Rules and Guidelines

  • This option is part of the setup required if using the Equalisation Method.
  • For monthly paid employees in a nominated Level 1, Preceda will divide all posting amounts by the number of weeks in the month. The resulting figures will be the amount passed to the files for posting to the General Ledger.

Field Information

The Calendar year that the Equalisation percentages are to be set.

This displays all the months for the calendar year.

Type the number of weeks in the selected month for this calendar year. This is either 4 or 5 but can be any number between 1 and 5 to suit.

Type the percentage adjustment to be made when the equalisation process is performed. Negative percentages are allowed. If no percentage is entered the field will default to zero when the record is saved.

  • The exceptions to this equalisation percentage rule are:-
  • Cost Adjustments
  • Cost Transfers
  • leave Liability Movements
  • The equalisation percentage is not applied to these records.
  • If an equalisation percentage has been entered, this percentage is calculated, divided by the number of weeks and passed to the files for posting to the General Ledger.
  • All figures are rounded up and any adjustments are made in the final week of the month.