Difference between revisions of "Producer Payables: Include Producer Commission in Payroll Check"
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#Enter the '''Producer's Code'''. | #Enter the '''Producer's Code'''. | ||
#Enter the desired '''Start Date''' and '''End Date''' for the invoices to be paid. Select '''OK'''. | #Enter the desired '''Start Date''' and '''End Date''' for the invoices to be paid. Select '''OK'''. | ||
− | #:[[File: | + | #:[[File:producer-reconcilepayable.png]] |
#'''Right Click -> Pay All Trust Amount''' to pay all invoices listed, or select individual invoices to '''Pay this Invoice Trust Amount'''. | #'''Right Click -> Pay All Trust Amount''' to pay all invoices listed, or select individual invoices to '''Pay this Invoice Trust Amount'''. | ||
− | #:[[File: | + | #:[[File:producer-reconcilepayable-payalltrust.png]] |
#Select the '''Payment Details''' button at the bottom of the screen. | #Select the '''Payment Details''' button at the bottom of the screen. | ||
#*Change '''Bank Code to 999'''. | #*Change '''Bank Code to 999'''. | ||
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#*Enter a '''Description'''. | #*Enter a '''Description'''. | ||
#*'''Write down Total Amount shown''' on the bottom-right corner of this window. This amount will be needed for the payroll check. Select '''OK'''. | #*'''Write down Total Amount shown''' on the bottom-right corner of this window. This amount will be needed for the payroll check. Select '''OK'''. | ||
− | #:[[File: | + | #:[[File:producer-reconcilepayable-payalltrust-paydetails-New.png]] |
#Select '''Perform Reconciliation'''. | #Select '''Perform Reconciliation'''. | ||
#The system will display '''"Check Number 999-WXXXX has been created."'''. Select '''OK'''. | #The system will display '''"Check Number 999-WXXXX has been created."'''. Select '''OK'''. | ||
− | #:[[File: | + | #:[[File:producer-reconcilepayable-payalltrust-createdcheck.png]] |
#The system will display '''"Reconciliation complete"'''. Select '''OK'''. | #The system will display '''"Reconciliation complete"'''. Select '''OK'''. | ||
See: [[Reconcile Producer Payables]] for more details. | See: [[Reconcile Producer Payables]] for more details. |
Latest revision as of 16:50, 6 August 2020
Required Software Version: September 2015 |
Legacy Instructions Available: Click Here |
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The process below outlines all steps required to include producer commission on an employee payroll check, including any non-policy related general ledger deductions.
Contents
One-Time Setup
Create a New Bank Profile
Create a new Bank Profile, number 999, named Producer Payable Bank. (Any bank code can be used, other than the operating and trust accounts).
Create a Vendor Profile For Each Producer
Create a Vendor Code for each Producer.
Create an Employee Payroll Voucher Template For Each Vendor
Create and store payroll check template for each vendor code created above.
Part 1: Clear Producer Payables Using Reconcile Producer Payables
The first part clears the Producer Payables balance (GL-2120) on invoices and records the wire check to bank 999.
- Select Producer -> Reconcile Producer Payables.
- Enter the Producer's Code.
- Enter the desired Start Date and End Date for the invoices to be paid. Select OK.
- Right Click -> Pay All Trust Amount to pay all invoices listed, or select individual invoices to Pay this Invoice Trust Amount.
- Select the Payment Details button at the bottom of the screen.
- Change Bank Code to 999.
- Change Check Type -> Wire Check.
- Enter a Description.
- Write down Total Amount shown on the bottom-right corner of this window. This amount will be needed for the payroll check. Select OK.
- Select Perform Reconciliation.
- The system will display "Check Number 999-WXXXX has been created.". Select OK.
- The system will display "Reconciliation complete". Select OK.
See: Reconcile Producer Payables for more details.
Part 2: Include Producer Payables Commission on Employee Payroll Check
The second part will create a voucher using the vendor code and employee payroll voucher template created in the one-time setup above.
- Select Vendor -> Voucher Transaction. (Requires Security System: AP -> Voucher Transaction -> View)
- Enter the Vendor Code for the producer.
- Select the Voucher Template from the next drop-down.
- Modify GL code 1100 - Sub GL 999. Enter reconcile payable amount from Part 1.
- Continue to Modify GL distributions on the template until the voucher total equals the amount of the employee's payroll check.
- When finished, select Save.
- When prompted, Select to Pay Now, or Pay Later to pay the voucher with a physical or wire check.