Set up payroll for direct deposit

Pear Tree
2017-08-23 15:39

1.     create a new GL asset account for "payroll clearing" (Finance, General Ledger, Update, Account Update)

 

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2.     set up a new bank code "payroll" (Finance, Payables, Administration, Bank Codes)

 

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3.     change the bank code on the payroll table to the “payroll” bank code (Finance, Payroll, Administration, Payroll Table).

 

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4.     after each payroll, do a journal entry to move the direct deposit total from the payroll clearing account to the bank account.  This transaction should match your bank statement.

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