Process Salary Accounting- A summary Of activity
|
|
|
|
|
Through this activity, you can request the system to carry out the salary accounting for a selected payroll. Salary accounting refers to posting the processed pay element values to the Books of Accounts.
Prerequisites to Carry out Salary Accounting: The system ensures that the following conditions are satisfied, before the salary accounting is processed:
Payroll processing has been authorized. This implies that the pay elements of all employees under the payroll are successfully processed.
Each pay element under the payroll, which has been processed, is already mapped to an Account.
All Departments linked to the employees are mapped to Cost Centers.
Posting to Books of Accounts: Processing salary accounting implies that the system generates financial accounting entries for various cost centers. This posting is carried out cost center wise, account wise or by both cost center and account. The system generates the debit and credit values, for posting them to the applicable cost center or account code.
When the posting is cost center wise, the system apportions the pay element values to various cost centers based on one of the two ways:
The time spent by the employees in each cost center or
The percentage of time spent in various cost centers.
When the posting is account wise, the pay element could be mapped to one or more accounts. The processed value of the pay element will be posted in accordance with the date range for which the pay element - account mapping is effective. Example: Joan Smith’s Dearness Allowance is 50% of her Basic; her Basic is $1000 per month. She is assigned from 1 April 2002 to 15 April 2002 to the Finance Department, where the account code is 001. The value of the Dearness Allowance posted to Account No. 001, on April 30, will be $250.
Salary Accounting Processing: You are to begin the salary processing activity by specifying parameters such as payroll accounting unit and the payroll for which processing of salary accounts must be performed. You must also specify the process period.
The system will validate the parameters specified and save them. Once these parameters are saved, the system will generate a session ID. The session ID uniquely identifies each instance of processing that the system carries out on a payset / payroll. The generation of the session ID indicates that the salary accounting is ready to be processed.
Getting familiar with the pages inside
|
Use the page… |
…to carry out task |
|
Process Salary Accounting |
You must have permissions for processing payroll accounting.
Payroll processing must have been authorized.
The pay elements mapped to the payroll must have been mapped to an account.
An employee must be mapped to a cost center for the process period.
What you can do in this activity
Process Salary Accounting for all the employees
Process salary accounting for specific employees
To process salary accounting for all the employees
You can process salary accounting for a payroll.
Select a payroll for which processing of salary accounting is to be performed.
Specify the process period for which salary accounting processing must be performed.
Select the “Process all Employees” check box .
Select “Save Parameters for Processing” pushbutton to save the parameters for processing.
Select the “Process” pushbutton to initiate salary accounting processing.
To process salary accounting for specific employees
You can process salary accounting for a payroll for specific employees.
Select a payroll for which processing of salary accounting is to be performed.
Specify the process period for which salary accounting processing must be performed.
Specify the payset and the employee code of the employees whose salary accounting is to be processed.
Select “Save Parameters for Processing” pushbutton to save the parameters for processing.
Select the “Process” pushbutton to initiate salary accounting processing for the specified employees.