Accounting Transactions for posting into a Financials package
If you are using Costing, you may wish to produce an electronic file of accounting transactions to load directly into your General Ledger program.
To use this feature:-
- Set up Costing
- Set up Account Codes
- Review your General Ledger Report.
- Follow the instructions in General Ledger Interface to download the interface file to your computer.
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.
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 Timesheet Template.
- When you are processing a payroll, review the financial reports.