This program allows the user of the FACTS system to create and maintain the deductions GL posting tables. Users establish their own set of valid GL posting tables. Each employee by pay cycle is assigned to a GL posting table that determines the correct GL account numbers to post to when posting deductions to general ledger for that employee/ pay cycle. The posting tables determine the general ledger distribution after the printing of the Check Register in payroll.
In our example, all employees, regardless of department, are assigned to the same deductions GL posting table.
|
*. |
GL Table |
STD |
|
|
2. |
Desc. |
Standard Table |
Matching Expense GL # |
|
3. |
FICA |
330-00 FICA Taxes Employee |
340-00 FICA Taxes Employer |
|
4. |
Fedl |
331-00 Federal Taxes |
|
|
5. |
Stat |
332-00 State Taxes |
|
|
6. |
Locl |
333-00 Local Taxes |
|
|
7. |
Not used |
|
|
|
8. |
Not used |
|
|
|
9. |
Insu |
335-00 Insurance |
|
|
10. |
Dntl |
336-00 Dental |
|
|
11. |
401K |
337-00 401K Employee |
341-00 401K Employer |
|
12. |
Advc |
338-00 Advance |
|
|
13. |
Not used |
|
|
|
14. |
Not used |
|
|
|
15. |
Not used |
|
|
|
16. |
Not used |
|
|
|
17. |
Not used |
|
|
|
18. |
Not used |
|
|
An employee earns $2000 with the following deductions; federal tax $100, FICA tax $50, state tax $25, insurance $10, 401K $15 with employee matching $15. The net check is $1800. The GL distribution posts as follows:
|
|
|
DEBIT |
CREDIT |
|
* |
Cash |
|
$1800 |
|
** |
Salaries |
$2000 |
|
|
|
330-00 FICA employee |
|
100 |
|
|
340-00 FICA employer |
50 |
|
|
|
331-00 Federal tax |
|
100 |
|
|
332-00 State tax |
|
25 |
|
|
335-00 Insurance |
|
10 |
|
|
337-00 401K employee |
|
30 |
|
|
341-00 401K employer |
15 |
|
|
|
|
$2065 |
$2065 |
|
* |
G/L number assigned to bank printing checks. |
||
|
** |
G/L number assigned to employee GL deductions posting table (see next program). |
||
1. GL Table
Enter the GL posting table (up to 3 characters). F2 allows a search.
2. Description
Enter the GL posting table description for deductions (up to 30 characters).
3-18. Deductions Categories
The name of each deductions category entered into the Code Sequence F/M program appears on the screen. For each category, enter the following:
Enter the GL account number to which deductions should be posted. The entry must be a valid G/L number. The user must enter an account number on each line. The same account number may be used more than once. F2 allows a search.
If the Employer Matching flag is set to N in the deduction code record, this field is skipped. If the flag is set to Y, enter the GL account number to which the matching expense should be posted. The entry must be a valid G/L number. F2 allows a search.
For more information how to use maintenances, refer to the following topics: