What is the Payroll Close General Ledger Date Used For?
When you process the Payroll Close, select the general ledger date in the GL Date field.
The general ledger date is used for posting of company expenses and company accruals to the payroll distribution file.
Example
The payment created for Janet is dated January 17, 2001. When processing the Payroll Close for the payroll cycle, the payroll manager entered the period end date of January 10, 2001, as the general ledger date. Therefore, general ledger postings are created as follows:
| GL Date | |||||
| Cash | 4321 | CORP | 11400 - 0000 | $285.54 | 1/17/01 |
| Fed w/h accrual | 4321 | CORP | 23200 - 0000 | $42.61 | 1/17/01 |
| State w/h accrual | 4321 | CORP | 23235 - 0000 | $19.75 | 1/17/01 |
| Reg pay expense | 4321 | CORP | 51000 - 0001 | $355.00 | 1/17/01 |
| Sick pay expense | 4321 | CORP | 51000 - 0003 | $100.00 | 1/17/01 |
| OVT pay expense | 4321 | CORP | 51000 - 0005 | $30.00 | 1/17/01 |
| FUTA accrual | 4321 | CORP | 23400 - 0000 | $3.88 | 1/17/01 |
| SUTA accrual | 4321 | CORP | 23450 - 0000 | $13.10 | 1/17/01 |
The period end date, which prints on the payment stub, is derived from the time record date. If you are processing the payroll cycle for time records falling into multiple pay periods, the latest pay period end date is printed on the employee's payment stub.