Use this program to create and maintain the deductions GL posting tables. You 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). |
||
Click Field Descriptions for information on each field.
For more information how to use maintenances, refer to the following topics: