Generate G/L Accruals

This window enables the user to generate accruals in Preceda.

Prerequisites

  • Program Control option GLACC, position 14 determines the method of accruals.

Rules and Guidelines

Two methods of Accruals can be generated:

  • Accrual Method #1
    • This method allows for the selection of records by Payrun Group and the nomination of a % for accrual to be applied by Payrun Group. This process is run immediately after the Update G/L Posting PTD File process.
  • Accrual Method #2
    • This method accrues labour costs to month end, generates the relevant posting journals for the GL9000 file and setups up reversal transactions.
  • The calculation of cost accruals is based on a nominated percentage representing the remaining portion/days of the G/L month.
    Example:-
    If the last pay period for the month of February finished on Monday 24th, four days remain to the end of month. The formula for reaching the percentage is dependent on the posting frequency of Weekly, Fortnightly or monthly.
    The remaining days in the posting period is divided by the days in the posting period multiplied by 100.
    • Weekly posting e.g. 4/7 x 100 = 57.14%
    • Fortnightly posting e.g. 4/14 x 100 = 28.51%
    • Monthly posting e.g. 4/28 x 100 = 14.29%
  • For each GL9000 record read, an accrual record is generated and added to the GL9000.
  • A corresponding reversal is also generated and held in a temporary file GL9000R.
  • When running the Create G/L Interface option the following is performed:-
  • Coverts the transaction in the GL9000 file to the format appropriate for the General Ledger system.
  • Clears the GL9000 file.
  • Copies the reversal transactions form the temporary file GL9000R to the GL9000 file ready to be reversed in the next conversion.

 

Field Information

Accrual Method #1

Specify a default percentage to be applied to all Payrun Groups that do not have a specific percentage applied in the format nn.nn.

  • This percentage will default into the Percentage field for each payrun Group on the window.

 

Specify the date for the reversal transactions.

Are accruals to be generated on oncosts?

Y Generate accruals on oncosts.
N Do not generate accruals on oncosts.

 

Details for rounding differences between credits and debits

This is the General Ledger account number that rounding amounts are to be posted to.

Select the company record for the suspense account.

  • The prompt will display a list of any company records for the General Ledger to which you are posting.

 

This field displays the Payrun Groups and Payrun Frequencies who have employees included in this Payrun.

Is this Payrun Group/Pay Frequencies displayed/to be included in this generation process?

Y Include this Payrun Group/Pay Frequency in this process. (default)
N Do not include this Payrun Group/Pay Frequency in this process.

 

This field displays the Default Percentage; this can be changed to reflect the percentage for the selected Payrun Group and Payrun Frequency.

If the Payrun Group/Pay Frequency combination has been used previously with a Company record, the company name will be displayed.

These fields specify the date and time this Payrun Group/Pay Frequency was previously run.

This field displays the user who generated the previous Payrun Group/Pay Frequency run.

 

Accrual Method #2

The Company to run the accruals is selected.

  • If left blank, accruals are generated for all records in the GL9000 file.

 

Specify a default percentage to apply in the format nn.nn.

  • A corresponding reversal is also generated and held in a temporary file GL9000R.

 

This field displays the date for the reversal transactions.

Details for rounding differences between credits and debits.

This field displays the General Ledger account number that rounding amounts are to be posted to.