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Managing Summer Vacation Issues
Summer vacations tend to bring along their
own issues for the accounting department.
Some employees receive their vacation check
in advance, some employees do not take their
vacations and just receive an ‘extra’ check.
Hourly employee’s vs salaried employees also
create issues sometimes. Then there is the
matter of keeping up with the vacation hours
the employee has earned and taken.
Here are some helpful hints to get you
through this vacation season.
Hourly employees can receive two checks in
the same Payroll run by entering their
regular hours as sequence 0 and entering the
vacation hours as sequence 1(or any other
sequence number).
Salaried employees can receive two checks by
adding a manual check for this salaried
employee after you have calculated checks.
To process a whole Payroll run of checks
that you do not want any deductions taken
from (only taxes) use the Pay Code (Pd Code)
of 6 when calculating checks.
To process vacation checks that will only
have one deduction when there are several
scheduled deductions set up for the employee
enter the hours and calculate as you
normally do. Go into Manual checks after
calculating and select the check whose
deductions you want to change. On the
Deduction screen zero out the deductions. In
OSAS re-calculate the check, in TRAVERSE
select YES to re-calculate the check when
you select NEXT.
To process a few hours of vacation for a
Salaried employee make sure the EARNING TYPE
is set to REPLACE. Enter the vacation hours
for this Salaried employee in Daily Work,
Transactions using the EARNING CODE for
vacation. When Time Tickets are posted and
checks are calculated the vacation hours
entered will replace the employee’s regular
hours with the number of vacation hours
entered. If you also want the related
payroll dollars calculated you must either
enter an hourly rate in the employee’s
master file or enter the rate when you are
entering time tickets.
To add a week’s vacation to a regular check
for an hourly employee simply enter the
regular hours and then enter the vacation
hours. Process the check as usual. You may
want to adjust the taxes that are being
withheld from this larger than usual check
enter Manual checks after you have
calculated checks and call up the check and
make changes to the Federal and/or State
Withholdings.
To keep up with the vacation hours an
employee has if you are not using the
automatic accruals you can simply enter the
total vacation hours that the employee has
through Leave Adjustments. As you enter
vacation hours in Daily Work, Transactions,
the vacation hours entered here will be
deducted from the hours in the employee’s
file. Running the Detail Leave Report in
OSAS will give you hours earned and taken by
month or quarter. Running the Sick Leave &
Vacation Report in TRAVERSE will give you
this information by dates entered from and
thru.
Top
Bank Account Transfers by Check
In Bank Reconciliation when you call or go
up on your bank’s website to transfer money
from one bank account to another you
normally then go into Bank Reconciliation
and do a TRANSFER.
What happens when you actually write a check
to transfer funds? The bank you are writing
the check out of will have a disbursement
but if you use the receiving bank GL account
number in entering the Accounts Payable
entry you will not have a deposit to select
in the receiving bank account’s
reconciliation.
To accomplish getting both the disbursement
and the deposit into the respective accounts
use a ‘flow through’ GL account as your
‘expense’ account in the AP entry. Then
enter the DEPOSIT in Bank Rec to the
receiving bank and use this same ‘flow
through’ account. This account will net to
zero and you will have the check and the
deposit in the banks.
Top
Fiscal
Year End 06/30/09
Is June 30 your fiscal year end? If so there
are several things you need to remember.
Make sure all
Updates to Current year have been performed
from your last fiscal year.
Post Accounts
Payable or Purchase Order, Daily Work,
Transactions to clear out the year assigned
to that batch when it was created. If the
batch was set to current year before you
create the new GL year then it will post to
the most current GL year and not the old
year that you wanted.
Create the new General Ledger year as soon
as possible at year end so you can be
working out of both years at the same time.
Perform year end maintenance in all other
applications as quickly as possible after
creating the new year in General Ledger.
When processing in each application you are
asked whether the transactions you are
entering get posted to this year or last
year.
Update the current year in General Ledger
each time you post to the master in the old
year. This will bring forward any changes to
the beginning balances for the Balance Sheet
accounts. Updating current year is performed
in the old year. No one else may be in the
software when you update.
Version 7.52 comes with Accounts
Payable/Purchase Order batches that will
post to different years. If you are not on
version 7.52 remember that you must keep
each year’s transactions batch separate.
Do NOT perform year end in Payroll, only
Quarter End.
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Customer
Deposits
When a customer is requested to pay a
deposit there are several ways to account
for the deposit.
You can enter the deposit in Cash Receipts
and put it on the customer’s account. This
however does not show this deposit as a
liability it lowers the value of the
Accounts Receivable Open Invoices. When the
customer is invoiced this deposit must then
be split and reapplied to the invoice. There
is no way to show the deposit applied on the
invoice.
A second way is to enter the Cash Receipt
without a customer ID. Use the Customer
Deposit GL Liability account to apply the
deposit to and use the customer id as the
invoice number.
Set up a method of payment that is a write
off and uses this customer deposit GL
account number. When the customer is
invoiced apply this method of payment to the
invoice to reduce amount owed.
Top
Credit Card
Receipts
The use of credit cards by employees can
sometimes get out of hand. Often nothing is
entered during the month and only at the
time the credit card bill arrives are any
expenses entered.
These credit card expenses can be large
dollar amounts and may affect business
decisions during the month.
There is no reason you cant enter these
receipts as they are turned in by your
employees.
If you do enter them during the month enter
them in such a way that it is easy to run
the Open Invoice Report and match the
entered receipts to the statement.
A date format for an invoice number can
assist not only in matching up but also
later on when you are running reports out of
Accounts Payable Detail History.
For example if you have a receipt dated June
09, 2009 you would use the invoice number
20090609 to indicate this date.
When the Open Invoice Report is run for the
Credit Card Vendor these invoices will line
up in date order as your statement is.
If your need is to run credit card receipts
by the employee who purchased then you might
consider using the employee’s initials in
front of the date formatted invoice number.
Just be consistent in your invoice numbering
so months and years from now you can run
reports from Detail History.
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GL Allocations
Do you have certain purchases that you
always split up amongst several General
Ledger accounts based upon percentages?
If you do you can set these up as
allocations and not have to split out and
calculate the amount that goes to each
account.
In Set up and Maintenance, Allocations enter
the main GL account that you will use when
entering invoices or transactions. Next
enter each GL account number and percentage
of expense that you want to go to that
account number.
When applications are posted to the General
Ledger you will see when you go to post that
there are allocations to be posted. When
posted the main account number will be
reversed from the original entry and
dispersed to the other accounts found in
allocations based upon the percentages that
were entered.
Top
Contact Us
Maple Business Software
Consulting LLC
59113 Timber Trail
Goshen, IN 46528
574-742-9241 - Office
574-312-8056 - Cell
574-975-2755 - Fax Number
email:
rvandaele@maplebusinesssoftware.com
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