Bromcom Finance: Year End Payroll clearance from FC01 ** Local payments – Devon LA**
Local payments need to carry out a payroll clearance in order to set the Fund Control 01 to zero , prior to preliminary close down.
Please see the following steps:
Step 1 – Modules > Finance> Homepage>General Ledger>Journals. Select “Year End journal” if you have already run preliminary close or standard journal if you have not run Preliminary close.
- Click green add lines button to add your journal lines:
- Line 1 – Select 9904 ledger code to record a debit for the payroll amount for the year as shown in the screen shot below.
- Line 2 – Select PAYCON ledger code to record a credit as shown in screen shot below.
Step 2 Modules> Finance> Homepage>Routines> Central payments/Receipts
- Record a receipt as shown in the screen shot below to credit the ledger PAYCON with the payroll expenditure for the year.
- Once this has been done you will need to run preliminary close again via Modules> Finance> Homepage>Routines> Close Financial year process.
