General Ledger (Setup)
The general ledger is an accounting document that provides a general overview of an organization's financial transactions. An account, or general ledger (GL) code, is a number used to record business transactions in the general ledger.
Prior to setting up your GL report please ensure that all Earnings, Allowances & Deduction Types are setup correctly (refer to notes on “Payroll Info Setup”)
Step 1 - Select ‘Add New GL Entry’
1. Select a unit by which you wish to track payroll cost. CUBE allows businesses to develop GL reports by Department, Division, Job Title, Location & Team.
2. Select the type of GL you wish to setup.
a. Select Allowances, Benefits, Deductions, Earnings, Employee if you wish to display these payroll expenses separately in the GL (is GL Item). E.g. Selecting “Allowances” will enable user to represent expenses like Travel, Housing & all other allowances paid to staff.
b. Payroll Item is used when payroll expenses in the GL needs to be grouped, such as Gross Pay, Net Pay, Total Allowances, Total Deductions etc
c. Salaries groups all Earnings & Allowances marked as “Is Salaries” (refer to notes on “Payroll Info Setup”) and display these values in the GL as a single amount under the description “Total Salaries.” Total salaries can include Regular Pay, Overtime, commission, Travel Allowance etc….
d. Salary Control is the sum of (Net Pay + Taxable Deductions – Total Staff Loans +Total Salary Advances)
c. Salaries & Wages Control allows users to report more extensively on all types of employee deduction.
Step 2 – Enter General Ledger Info
In the example above the user has selected “Department” as the Unit and “Earnings” as the General Ledger Type (highlighted in yellow above).
Users can also group departments with similar GL Codes.
Step 3 – View General Ledger Info
You can review/edit all General Ledger reports by selecting the view option in your control panel:
These GL reports can be found in their respective “Payroll Summary Reports” and can be downloaded via pdf or .csv for easy upload into your accounting software. API integration also available.