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Trace: • Verify next year payroll information • Generate, print, and review Outstanding Purchase Orders Report • (For LEAs that accrue monthly) Balance accruals in Finance and Payroll • select_government_exp_trust_funds • augustaccruals_verify_accrual_amounts_are_cleared_extract_reports
general:augustaccruals_verify_accrual_amounts_are_cleared

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general:augustaccruals_verify_accrual_amounts_are_cleared [2024/06/11 12:53] – emorenogeneral:augustaccruals_verify_accrual_amounts_are_cleared [2025/06/05 15:53] (current) – emoreno
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 If your LEA accrues monthly, complete the following steps to verify the accurate posting of monthly accruals in both  Finance and Payroll. It is critical that both areas agree to ensure accurate reporting of federal funds. If your LEA accrues monthly, complete the following steps to verify the accurate posting of monthly accruals in both  Finance and Payroll. It is critical that both areas agree to ensure accurate reporting of federal funds.
  
-**It is recommended** that you balance accruals during the end-of-month Finance process to quickly identify and rectify errors.+**It is recommended** to balance accruals monthly to help identify and correct any errors. Use the [[payroll:utilities:payrollaccrualvarianceextract:extract|Payroll > Utilities > Payroll Accrual Variance Extract > Extract]] to assist you in this process.
  
 [[finance:tables:districtfinanceoptions:clearingfundmaintenance|Finance > Tables > District Finance Options > Clearing Fund Maintenance]] [[finance:tables:districtfinanceoptions:clearingfundmaintenance|Finance > Tables > District Finance Options > Clearing Fund Maintenance]]
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 |221X.19|Emplr TRS Care Accrued|6146| |221X.19|Emplr TRS Care Accrued|6146|
 |221X.20|Emplr Dependent Care Accrued|6149| |221X.20|Emplr Dependent Care Accrued|6149|
-|221X.22|Emplr Misc Ded Contrib Accrued|6149|+|221X.21|Emplr Misc Ded Contrib Accrued|6149|
  
 Assuming that only your 10-month employees accrue, the easiest time to complete accrual balancing is after completing the August payroll but before completing the August accruals. At this time, the amounts displayed on the School Year to Date Report and the General Ledger Inquiry liability accounts (216X and 221X.XX) are typically all zeros. Employees who accrue monthly and receive the first payment of their new contract prior to September will have accruals in Finance and the upcoming School Year to Date Report if the **TRS Year** field is selected on the Job info tab. These amounts should be considered during the accrual balancing process. Here are five common scenarios to consider. Assuming that only your 10-month employees accrue, the easiest time to complete accrual balancing is after completing the August payroll but before completing the August accruals. At this time, the amounts displayed on the School Year to Date Report and the General Ledger Inquiry liability accounts (216X and 221X.XX) are typically all zeros. Employees who accrue monthly and receive the first payment of their new contract prior to September will have accruals in Finance and the upcoming School Year to Date Report if the **TRS Year** field is selected on the Job info tab. These amounts should be considered during the accrual balancing process. Here are five common scenarios to consider.
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 {{:general:eoypayverify_zeroytdextractreport.jpg|Zero School YTD Extract Report}} {{:general:eoypayverify_zeroytdextractreport.jpg|Zero School YTD Extract Report}}
  
-If the process is successful, close the Extract report.+  * If the process is successful, close the Extract report.  
 +  * If there were any errors encountered during the extract, the system displays the Zero School YTD Accruals Calculation Errors listing. [[general:printreport|Review the report.]] 
 +  * **It is recommended** that you clear all errors prior to continuing with the extract process.
  
 [[payroll:utilities:zeroschoolytdaccruals:reports|Payroll > Utilities > Zero School YTD Accruals > Reports]]  [[payroll:utilities:zeroschoolytdaccruals:reports|Payroll > Utilities > Zero School YTD Accruals > Reports]] 
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   * If these amounts do not match in Finance, enter a JV on the Finance > Postings > Journal Actual tab to match the School Year to Date amounts.   * If these amounts do not match in Finance, enter a JV on the Finance > Postings > Journal Actual tab to match the School Year to Date amounts.
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-Refer to the above chart to see the expenditure object that ties to each liability. For example, if the accrued FICA/Medicare liability line (object 221X.14) shows a balance of - +Refer to the above chart to see the expenditure object that ties to each liability. For example, if the accrued FICA/Medicare liability line (object 221X.14) shows a balance of -$158.56, you will need to debit a payroll expenditure account with an object code of 6141 for $158.56.
-$158.56, you will need to debit a payroll expenditure account with an object code of 6141.+
 </WRAP> </WRAP>
  
general/augustaccruals_verify_accrual_amounts_are_cleared.1718110439.txt.gz · Last modified: 2024/06/11 12:53 by emoreno

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