General Ledger Reporting
Our payroll system has a potent General Ledger Reporting ability and we can provide you with the following items for each pay period.
- A pdf report (see below) showing you your journal transactions
- a csv import file that you can import into your General Ledger System
- A csv audit file gives full details of each transaction and which GL balance it is added to.
The system provides full Accrual values with respect to your Annual Leave Liability. This means that Annual Leave is expensed when an employee works and the value is moved to your Leave Liability Account in the Balance Sheet. When Annual Leave is taken it just reduces your Leave Liability, thereby giving you more accurate costings, and you don't need to journal in/out the difference in Leave values at the end of the month.
General Ledger Report
Below is a very simple GL Report but it shows the structure of how it works.
- Payroll Expense - your Gross wage costs
- Addon Expenses - Employer Kiwisaver will sit here, in addition to any other Addon Costs we have setup, for example your ACC accruals.
- Leave Accruals - this represents your Annual Leave Expense, or in simple terms 8% of your Gross Wage Cost.
- Leave Revaluations - each pay period the system revalues your Annual Leave Liability in accordance with the Holidays Act whereby leave must be paid at the higher of two different calculations.
By using the txt file we include, the payroll will keep your Leave Liability up to date within your Balance Sheet.
The setup cost for General Ledger Reporting is $180 per hour but will save you endless hours manually preparing a GL Report each pay period.