Page tree

Versions Compared

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

Accrued Leave represents the amount of leave an employee has earned based upon on 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.  

  1. Run the People Accrual Summary Report showing  report using Show Cost & Liability for the period ending with the last day of the fiscal period (Reports > People Reports > Accrual Summary).



  2. Compare the Total Liability TOTAL LIABILITY to the Accrued Leave balance on the Balance Sheet by running the General Ledger Summary Report GL Summary (Trial Balance) report for this account (Financial > General Ledger > GL Summary (Trial Balance)).



  3. Enter a General Ledger Journal Entry to record any variance amount.

...