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PAY: Daily Costing, Costing of Payment and Transfer to GL
We are on a monthly payroll and do our costing, costing of payment and transfer to GL on an monthly basis. We have many quick pays run in the middle of the months. The GL is requesting us to do a daily costing, Costing of payment and Transfer to GL on a daily basis.
May I request what would be the implications and what precautions needs to be taken care. Also, whats the best practice on frequency of costing and transfer to gl.
Thanks,