Accrued Leave represents the amount of leave an employee has earned based upon the Company's accrual plans. The amount of this accrual is recorded as a liability on the Company's balance sheet and should be reconciled periodically to account for changes in rates and employee terminations.
- Run the Accrual Summary Report showing Cost & Liability for the period ending with the last day of the fiscal period (Reports > People Reports > Accrual Summary).
- Compare the Total Liability to the Accrued Leave balance on the Balance Sheet by running the General Ledger Summary Report for this account.
- Enter a General Ledger Journal Entry to record any variance amount.