Dear Experts,
Could you please advice me on Accrual process.
1. In our scenario, For period 17, which ends on Wed, 08/26/2015, the financial book will be closed by the end of consecutive Friday that is on 08/28/2015
2. Under our current setup for the payroll cycle, the pay check issued on Friday that is on 08/21/15 only covers the period between 08/02 to 08/15/15.
The next payroll check on Fri, that is on 09/04/15, should cover the period of 08/16 to 08/29/15.
3. Based on the concept of accrual basis, the payroll period of 08/16/15 to 08/26/15 should be recognized as period 17's expense & the rest belongs to Period 18.
4. Would it be possible that system can generate an entry to recognize these expenses, for the period which belongs to period 17, on the last day of period 17 & reversed it on the 1st day of period 18? On 09/04/15, actual posting of payroll remains the same. It can be an estimated amount based on any reasonable historical data.
We maintained Payday and posting day dates (same day) only in V_T549S. No Values are maintained in V_T51A1
Please let us know what options we have to handle payroll if the accrual basis is implemented.
Regards,
Sairam.