How to reconcile the OTL to Payroll to Project accounting

Mar 29, 2021 2:33PM

Summary

Hi,

We have a requirement to enter time sheet in HCM, that is giving feed to Payroll as well as Projects

E.g: Employee enters time sheet for 40Hours with $1,500 (as actual Payroll Cost)

Assumption we are using the same rate in Projects as well

So in Payroll the 1st accounting is

Payroll Exp -- 1500 (DR) --> Cash --1500 (CR)

When the OTL time sheet imports into PPM, and performing the accounting it is like

Direct Labor Exp --1500 (DR) --> Labor Clearing -- 1500 (CR)

at the time of reconcile, how we will move the clearing amount to which account?? what is the best practices here.