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<< Click to Display Table of Contents >> Allocation of service fees |
Access: General Ledger > Allocation > Service fees
This function allows you to identify the accounts that are to be debited and credited for the service fees associated with the payroll processing of the previous pay period.
This procedure is optional, depending on the needs of your company.
Thing to remember If you are using QuickBooks Online, the Synchronize button allows you to update your chart of accounts based on the modifications you made to your QuickBooks chart of accounts. Accounts can be blanked out in the breakdown if they were deleted in QuickBooks. In the event that accounts were added or modified, however, you may need to update the breakdown. To view your updated chart of accounts, click on the Chart of accounts hyperlink in the message displayed at the top of the screen following the synchronization. |
1Enter a Debit account number and a Credit account number for the service fees, goods and services tax (GST) and provincial taxes.
The drop-down list of debit and credit account numbers is based on your chart of accounts. If you are using QuickBooks Online, only the accounts that are tagged Payroll account will appear in the drop-down list (see Configuring a chart of accounts). Select “Nil” if no account is specified.
Things to remember To generate accounting entries for service fees, enter “Nil” for the Debit account number and Credit account number. |
2Select Accrual entries for service fees definition to generate an accrual entry including service fees.
3Click on Save to complete the procedure.
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