To run the Partial Period Accrual Calculation Process:If the end of your accounting period occurs before the end of your current payroll period, you may have outstanding costs that have accrued since the end of your last complete payroll period. You can incorporate these accrued costs in your end of period accounting by:
Posting estimated costs for the accrued period
Reversing these estimated costs when the actual costs become available
You do this by:
Running the Partial Period Accrual process on the last day of the accounting period
Running the Transfer to GL process, also on the last day of the accounting period.
Running the Transfer to GL process again when the actual costs become available at the end of the current payroll period. This cancels your estimates and replaces them with the actual costs.
To run the Partial Period Accrual Calculation Process:Enter the name of the payroll for which you want to calculate partial period accruals.
Enter the consolidation set name.
Enter the period date.
The period date specifies the payroll period that you want to use as a basis for the accruals. The process bases its estimates on runs whose effective date (check date) lies in the payroll period containing the period date you specify here. If you offset your check date (say, a week after the period end date), offset the period date as well. Specify a period date within the pay period containing the check date.
Confirm that the accounting date is correct.
This is the effective date (the date on which you will post your estimates to the general ledger), typically the last date of the accounting period.
Choose OK.
Choose Submit
You have now calculated the estimated costs, and you can transfer them to General Ledger. You have also automatically stored a negation of these estimates and this is used to cancel the estimates and replace them with the actuals when you next run the Transfer to GL process.