Answer : In module Payroll, user will also need to do settings for adjustment purposes. In order to do this, user need to go to the following page:
1. Go to Payroll > Configurations > Adjustment Purposes > View List.
2. You can edit the adjustment purposes or click on add new to add a new adjustment purpose.
3 Next, you will arrive to the following page:
4. On this page, you can setup the adjustment purpose information, and select the chart of account for the adjustment’s account.
5. Here, only all the detail accounts in Chart of Accounts are listed. If you do not have the Chart of Account setup yet, you need to setup it first in Accounting Module, then only you will be able to select it here.
6. The following is the transaction that will take place:
Adjustment (Additional) | The account selected will be used to Debit Normally, for Adjustment Purpose (Additional) the accounts use for this is Overhead. |
Adjustment (Deduction) | The account selected will be used to Credit |
Note:
#Due to the freedom that we provide to you to select any Chart of Account that is suitable for your Adjustment Purpose, please make sure you select the correct Chart of Account based on the explanation above.
#The accounting transaction will NOT be generated if the transaction created does not balance its debit and credit amount. This is to ensure that correct financial reports are generated.