1 Reply Latest reply: May 26, 2014 2:33 AM by Manish Kapoor-Oracle RSS

    Full Accounting Cycle of Payroll Transactions & Payment - R12

    9172757e-c67c-41ba-9e8d-4e8d94c81587

      Dears

       

      I need your help to understand the full accounting cycle of payroll transactions, start from costing till payment

       

      My understanding is as following :

       

      In the payroll module, the following journals are created

       

      Dr. Staff Cost

                     Cr. Payroll Clearing Account

       

      In the Accounts Payable module:

       

      Dr. Payroll Clearing

                     Cr. Bank

       

      Before closing the accounting period, a reconciliation of Accounts Payable Trial Balance and the GL Trial Balance is performed , the balances in both modules must MATCH

       

      My questions:

       

      1-     How the reconciliation of Payroll Module and the GL can be performed, is there any report in Payroll similar to Accounts Payable Trial Balance that can be used to ensure that all payroll transactions are transferred and imported successfully to GL

      2-     How the payroll clearing account is netted off within the Payroll Module

       

      Thanks

        • 1. Re: Full Accounting Cycle of Payroll Transactions & Payment - R12
          Manish Kapoor-Oracle

          I don't think there is a standard report available they way you want.

          Standard process is enclosed, you can seek help of you Financial Consultant

           

           

          1. Import the Bank Statement. You do this in Oracle Cash Management.

          See Importing Bank Statements, Oracle Cash Management User Guide (select specific bank for Payroll)

          2. Run the automatic reconciliations process. You do this from Oracle Cash

          Management.

          3. View the results of the reconciliation process. You can do this either through Oracle

          Payroll, or Oracle Cash Management.

          To do this in Oracle Payroll, see Viewing Payroll Process Results, page 4-13

          In Oracle Cash Management, you can view the following reports:

          • Available Transactions report

          • AutoReconciliation Execution report

          4. Identify any payments that are marked in error, and reconcile them manually.