PR> Computer and Manual Checks> GL Distribution
Summary
A split period liability is generated when there are timecards in a single Computer Checks or Retro Pay batch that span more than one GL fiscal period. For example, assume there are timecards in two fiscal periods in a single Computer Checks batch. The wages, benefits and liabilities associated with the timecards in period 1 will be posted to period 1. In order for the journal entry to balance in fiscal period 1, the net check amount will be posted to the GL account entered in this field. In fiscal period two, all of the wages, benefits and liabilities associated with the timecards in period two will be posted to period two. The net check amount will be posted to the GL cash account associated with the bank account selected during the Generate step (PR> Computer Checks> Generate> Bank Account field). The split period liability GL account will then be debited for the amount of the period 1 net check.
Direct Deposits and other liabilities will be cleared with the AP and CH processes in period 2.
In order to use this feature, you must have a split period liability GL account defined in the Payroll module Setup window (PR> Utilities> Setup> General> Split Period Liability field). Click here for information on the Payroll module Setup window.
Related Links
Journal Entry
| Description | Debit | Credit |
| Period 1 | ||
|
Gross amount of the computer or manual check. This includes any premiums added to the paycheck because the premium will be paid out using the pay code that triggers it (PR> Maintenance> Premiums> Pay Codes section). |
Gross amount of the check | |
|
Split Period Liability GL account (PR> Utilities> Setup> General tab> Split Period Liability field) - This line item balances the journal entry by fiscal period and will be reversed in period 2 |
Net amount paid out on the physical check | |
|
GL accounts on the deductions - Click here for information on how those GL accounts are selected. |
Amount of deductions | |
|
GL accounts on the benefits - Click here for information on how those GL accounts are selected. |
Amount of benefits | |
|
GL accounts on the benefits - Click here for information on how those GL accounts are selected. |
Amount of benefits | |
| Period 2 | ||
|
Gross amount of the computer or manual check. This includes any premiums added to the paycheck because the premium will be paid out using the pay code that triggers it (PR> Maintenance> Premiums> Pay Codes section). |
Gross amount of the check | |
|
GL accounts on the deductions - Click here for information on how those GL accounts are selected. |
Amount of deductions | |
| GL accounts on the benefits - Click here for
information on how those GL accounts are selected |
Amount of benefits | |
|
GL accounts on the benefits - Click here for information on how those GL accounts are selected. |
Amount of benefits | |
| Split Period Liability GL account - This line item reverses the split period entry made in fiscal period 1 | Net amount of Period 1 check | |
| Cash account attached to the bank account selected during Settings (PR> Manual Checks) or Generate step (PR> Computer Checks) | Net amount of both period 1 and period 2 checks | |