Account Codes are an optional feature that allow you to analyse your payments and
deductions and transfer journals to a General Ledger
(Accounting program), providing an electronic interface to your financial system.
Note: To use account codes, costing
must be enabled. (In Outback Ventures (Demo), costing is currently
For an example of a journal see the sample
GL Postings Report.
Setting Up Account Codes
Follow these steps to set up Account Codes.
- Review your Account Codes
page, and enter the relevant account codes. (The full account code, as you wish
to transfer to your financials package).
- For each account code that deductions will be posted to,
Add a new Cost Centre
using the account code as the cost centre code.
- For each deduction
in your organisation, select the appropriate Account Code from the
Cost Centre box.
- For each person,
enter the account code against every relevant deduction in their Standard Timesheet.
- Check Set Up of all your GL Accounting Transactions.
- When you are processing a payroll, review the
General Ledger Clearing Accounts
In your Account Codes page
there are a number of Clearing Accounts that are used by the accounting features.
Note: Leave this account blank if you do not operate a
Payroll Clearing Account in your General Ledger.
Enter the account code for your Payroll Clearing Account. The GL Postings will then
contain an extra debit and credit transaction to this account. The credit will be
for the total charged to each cost centre, and the debit will be the total of all
deductions (including tax and nett pay, etc). These will almost certainly be for
the same amount, leaving a balance of zero in your Payroll Clearing account. (Any
residual balance will need to be investigated and cleared).
||This is a 'catch-all' account code for any bank deductions that do not have a specific account code specified.
||This is a 'catch-all' account code for any tax deductions that do not have a specific account code specified.
||This is a 'catch-all' account code for any cheque deductions that do not have a specific account code specified.
||This is a 'catch-all' account code for any cash deductions that do not have a specific account code specified.
|Employer's Superannuation Contribution (ESC)
|DR: ESC Gross
Enter the account code to charge superannuation subsidies to.
Tip: If you leave this account code blank, superannuation
subsidies will be charged to each persons default cost centre. This is useful if
your organisation charges superannuation against each cost centre rather than to
a single specific account.
|CR: Employer's Superannuation Contribution Tax (ESCT)
Enter the account code to credit the Employer's Superannuation Contribution Tax
(ESCT) to. (See
help for more information).
Note: This is part of the "contra" entry to ESC Gross. The remainder (i.e.
the ESC Nett amount) is credited to the Cost centre defined on the ESC Deduction.
Enter the account code to post any Overpayments Raised to.
Overpayments are raised when you reverse out transactions,
(using a negative quantity on the timesheet), resulting in a net debt rather than a net
pay to a person.
Overpayments and Recovery for more information).
|Cash Roundings Clearing
Note: You can leave this account blank if you do not make any
If you make any Cash payments, the person pay will be rounded to avoid you having
to handle small denominations. The amounts advanced for these cash roundings will be
posted to this account.
Note: You must tick the "Post Leave Provisions" checkbox to enable this feature.
Leave Provisions can be posted on
your GL Postings report
if desired. Enter the Account Code to debit the leave provision to here.
The credit entries will be posted to the account codes for your
AL-ENT - Annual Leave Entitlement
Note: Usually leave this account code blank. The Gross Pay will be credited to each cost centre.
Gross Payments debited to each Cost Centre can split between Nett and Tax amounts.
Enter the Account Code to debit the tax split portion to here.
(A template can be used to split the Tax to different cost centres).
The Nett pay portion will still be debited to the accounts specified against each payment.
The credit entries will be posted to the account codes for your Tax Deductions.
Tip: Generally, if you leave one of these accounts blank, any
postings to that account will go to the Payroll Clearing Account instead. (However,
read the description above for each account, as some have special rules).