Hi everyone,
Our Reckon One team have implemented a series of enhancements to our cloud solution Reckon One which are now live!
These include;
Payroll Payments
Books that have the payroll module enabled will have two additional system liability accounts
The Payroll Payable account tracks net pay amounts owed to employees from pay run transactions.
The Super Payable account tracks amounts owed to super funds from pay run transactions.
The payment screen has a new field Payable type. This field allows you to select the appropriate payable account for the payment you are entering.
- Accounts Payable: for paying supplier liabilities
- Payroll Payable: for paying employee liabilities
- Super Payable: for paying super fund liabilities
Example:
A pay run has been entered for employee Steve Jobs.
The
Payroll Payable account tracks net pay amounts owed to employees from pay run transactions (Steve’s net pay entitlement is $5,958.00)
You would enter a payment which uses the payable type
Payroll Payable & also select the applicable employee contact who is associated to a paid pay run in the book.
The
Allocate tab will show you the paid pay run liability for the selected employee contact. In the
How much to allocate column you enter the amount you want to pay.
The
Super Payable account tracks amounts owed to super funds from pay run transactions (Steve’s super entitlement is $771.88).
You would need to enter a payment which uses the payable type
Super Payable & also select the applicable super fund contact who is associated to a paid pay run in the book.
The
Allocate tab will show you the paid pay run liability for the selected super fund contact. In the
How much to allocate column you enter the amount you want to pay.
The payment list screen now has an additional column available called
Payable type. This column isn’t enabled by default however you can choose to display it via the
Show/hide columns option.
This column shows the payable account used for each payment transaction.
- Accounts Payable for supplier bill payments
- Payroll Payable for employee pay run payments
- Super Payable for super fund pay run payments
- Blank/empty for payments that don’t use any payable accounts (i.e. payments that aren’t associated with other transactions)
The payment screen for books without the Payroll module will have the
Payable type field & this field will be read only & set to
Accounts Payable.
The receipts screen will have the
Payable type field & this field will be read only & set to
Accounts Receivable.
