Drake Accounting®: How do I set up to automatically post payroll transactions to the journal?
To get started, go to Employees > Options:
- Under Journal Type, check Generate Accounting Transactions. This option allows Drake Accounting® to automatically post payroll transactions to the journal.
- Select how you want payroll transactions to be displayed in the journal. One of the following options must be selected:
- Post Detailed Payroll to Journal
- Enters transactions by employee and check date for each payroll check entered and creates separate journal entries for each payroll transaction.
- Note: This option must be selected to accurately reconcile bank accounts.
- Post Cumulative Payroll to Journal
- All employees are combined into one set of entries with all pay periods rolled into one set of entries.
- Posts all unposted transactions when the Accounting > Transactions > Unposted screen is opened and uses the current date. It does not use the check dates of the payroll that has been entered.
- Post Combined Payroll to Journal
- Combines all employees into one set of entries, but each check date gets its own set of entries.
- Select the Journal you want the payroll transactions to automatically post to from the drop box.
- Use the AutoFill Journal Entry Description with Employee Code feature to add the Employee Code to the payroll transactions.
- Click on GL Account Numbers and finish setup.
- When finished, click Save.
Once you check Generate Accounting Transactions, you can hover your pointer over each option to see a description of how it will post transactions.