Posting payroll journals
Before you can post your payroll journals, you need to set up the salary and liability accounts in Sage One Accounting that are relevant to your business.
Once you have created your accounts, integrated the Accounting and Payroll software, mapped all your pay components to a debit and credit account and processed your pay run, you can post your payroll journals directly to Sage One Accounting.
To post your payroll journals, click on GL Integration…Post Payroll Journal. The following screen will display:
|Payroll Company||Select the Payroll company that you want to post the payroll journals for.|
|Pay Run||Select the pay run that you are posting.|
The following screen will display:
The payroll transactions that must be posted will be displayed. This is based on the pay components processed for the selected pay run. If you have not yet linked your Debit and Credit accounts, you have to select the Map Now links. Note that all pay components that have been processed have to be mapped to ensure that nothing is missed from an accounting perspective, before you are able to post.
There are two sides to a payroll journal from an Accounting perspective:
- Debit Account in Sage One Payroll = Expense Account in Sage One Accounting. This expense refers to the cost of your employees to the business.
- Credit Account in Sage One Payroll = Current Liability Account in Sage One Accounting. This represents the amount owing to your employees (because we haven’t recorded the payment to them in the accounting records yet)
Click on the Post Payroll Journal option.