Journal Entry

 

The Send Journal Entry feature sends labor related journal entries to QuickBooks.  All entries are detailed by employee and job.  The journal entry feature is available if eF company setting- Allow payroll journal entry is turned on.

 

LABOR JOURNAL ENTRY

Labor entry posted for the selected pay period using the pay period end date. If the pay period crosses months, the recommended procedure is to follow this up with the Accrual and Reversal step to adjust labor into the month it was worked.

 

ACCRUALS and REVERSALS

Posts two journal entries (1) a labor accrual entry and (2) a reversal of the accrual.  Labor Accrual/Reversal button writes an accrual JE to Accrue from the beginning of the pay period through the selected Labor Accrual date.  Accrual date is also used as the Journal Entry date.  The Reversal date will default to labor accrual date plus one day, and is the date used to REVERSE the entries accrued in the previous month.  The Labor Accrual date and the Reversal date can be changed to accommodate any business policy such as an irregular "month end".

 

LEAVE ACCRUALS

Posts a journal entry for leave accrued during the selected pay period.  Journal entry is dated using the pay period end date.

 

Ex. The two accrual JE's together represent the hours worked in the pay period.  The first entry is for hours through 8/31 and the second entry is for hours worked 9/1-end of pay period.

 

Pay Period Selected is 8/26-9/8

Labor Accrual Date set to 8/31

Reversal Date set to 9/1

 

RESULT

Labor Journal Entry dated 8/31 for hours accrued 8/26-8/31

Reversal Journal Entry dated 9/1 for hours accrued 9/1-9/8

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