Payroll - Accounting Date ; Period End Date or Check Date?

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We are currently using the "Period End Date" as the accounting date when posting weekly payroll. Payroll is paid week after actual work period so this causes some issues with both taxes and Job Cost.

What do others use for Accounting Date for PR? Any issues arise from project management?

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  • 0
    SUGGESTED

    If you are referring to a US payroll, the liability for payroll withholdings and employer payroll taxes is created when the payroll check is issued, and therefore the Check Date is the most accurate date to use as the Accounting Date. The General Ledger tax liability accounts will correctly reflect the date the liability accrues when the check date is used as the accounting date.

    Job Cost transactions created from Payroll processing record both a Transaction Date and an Accounting Date.  For payroll time entries sent to Job Cost, the Period End date will be recorded as the Transaction Date and the Check Date will be recorded as the Accounting Date.

    For specific reporting needs from Job Cost, reports can be modified to use either the Transaction Date or the Accounting Date when filtering by a range of dates.

    The Payroll module also provides a Task item to Accrue Payroll which allows Time Entries that are not yet issued as checks to be Accrued to Job Cost and General Ledger.

  • 0 in reply to Art Minds

    I agree with Art.  For US payroll, we use the check date as the accounting date.  No issues with taxes or with JC.  Can't answer for Project Management as we don't have it.  

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