Accounting Questions

Yahoo Archive
1
Sandy:
Thank you - that was what I expected, but didn't know if there were any other "secrets" I didn't know of!
Appreciate your help.
Julie

----- Original Message -----
From: Sandy Morse
To: vantage@yahoogroups.com
Sent: Thursday, March 09, 2006 2:50 PM
Subject: [Vantage] RE: Accounting Questions


Julie,

On 6.1 and prior Vantage does not handle accruals automatically (don't
know about 8) -- this is what I do:

1. Run payroll as normal
2. Print (or print preview payroll register)
3. Use the bottom portion with the account breakdowns and enter a
reversing journal entry for February. This will back the
expenses/accruals out of March and when the payroll is posted March cost
for that payroll will be zero.

Hope this helps.

Sandy Morse
BVR Technologies Company
815-874-2471 x112


And a 3rd question - this is regarding accruals. Specifically, payroll
expenses/accruals. For example, our payroll week-ending 2/24/06 is
technically February expenses, yet since it is paid in March, all the
expenses and accruals hit the G/L in March. Is there a way (short of
making journal entries) of setting it up so that Vantage puts the
expenses in the right time period?


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2
Julie,

On 6.1 and prior Vantage does not handle accruals automatically (don't
know about 8) -- this is what I do:

1. Run payroll as normal
2. Print (or print preview payroll register)
3. Use the bottom portion with the account breakdowns and enter a
reversing journal entry for February. This will back the
expenses/accruals out of March and when the payroll is posted March cost
for that payroll will be zero.

Hope this helps.

Sandy Morse
BVR Technologies Company
815-874-2471 x112


And a 3rd question - this is regarding accruals. Specifically, payroll
expenses/accruals. For example, our payroll week-ending 2/24/06 is
technically February expenses, yet since it is paid in March, all the
expenses and accruals hit the G/L in March. Is there a way (short of
making journal entries) of setting it up so that Vantage puts the
expenses in the right time period?