Posting payroll in summary
Summary posting provides an advantage over detailed posting for companies with very large payrolls. It reduces the total number of line items posted to the general ledger, and it also reduces the detail posted for each employee paycheck.
- In detailed posting, Sage 100 Contractor creates a journal transaction for the total cost of each paycheck. Each journal transaction contains line items for the labor costs and each payroll calculation.
- In summary posting, Sage 100 Contractor requires you to provide a clearing (summary) account in addition to a checking account, where the clearing account temporarily holds the net pay.
Posting creates a separate journal transaction for the net amount of each paycheck, which posts to the clearing account and the checking account. Then Sage 100 Contractor creates a journal transaction containing a summary of the payroll expenses. The expenses post to the accounts as directed in the setup for each payroll calculation; the net amount of the payroll records posts against the clearing account. After the summary posting is complete, the clearing account balance returns to its original balance.
The Post Payroll to GL window has six text boxes in which to enter information. Use the Pay Period Ending and Record# text boxes to select a range of pay periods and records. Alternatively, you can use the Record Pick List to select a specific pay period and record.
In addition, consider the following points:
- You can limit the posting to a range of pay periods. In the first Pay Period Ending text box, enter the ending date of the first pay period you want to post. In the second Pay Period Ending text box, enter the ending date of the last pay period you want to post.
- You can limit the posting to a range of records. In the first Record# text box, enter the first payroll record you want to post. In the second Record# text box, enter the last payroll record you want to post.
To post payroll in summary:
- Open 5-2-6 Post Payroll to GL.
- In the Checking Account text box, enter the ledger account number for the checking account.
- In the Pay Period Ending text boxes, enter the pay period ranges.
- Do one of the following:
- In the Record# text boxes, enter the record number ranges.
- Next to the Record Pick List text box, click Display pick list window to select a specific list of record numbers.
- Select the Post in Summary check box.
- In the Summary Account text box, enter the clearing account number.
- Click Post Payroll.
Tip: You can create a Record Pick List of payroll records to post.