Example: Journal Entry with Document and Journal-Entry Types
This example of a payroll cycle journal entry is based on these simple payroll conditions:
Employee: Home Company = 1, Home Business Unit = 25, Union = 1000
Timecard: January 28, 1998 (Pay Code 001) 1,000 USD
Payroll Taxes and Insurance (P.T.I.): FICA (Tax Type D & E) 70 USD
Deductions: Savings Bond (Ded Code 2000) 50 USD
Benefits: Union 1000 (Ben Code 6000) 30 USD
Payment Date: February 5, 1998
Type T2 - Labor Distribution Journal Entries:
Type |
Journal-Entry Type |
Date |
Account |
Description |
DR |
CR |
|---|---|---|---|---|---|---|
T2 |
AW |
01/28/98 |
1.4205 |
Wages Payable |
0 |
1000 |
T2 |
LD |
01/28/98 |
25.8115 |
Labor Expenses Labor Expenses |
1000 |
Blank |
Blank |
Blank |
Blank |
Blank |
TOTALS |
1000 |
1000 |
Type T3 - Actual Burden Journal Entries:
Type |
Journal-Entry Type |
Date |
Account |
Description |
DR |
CR |
|---|---|---|---|---|---|---|
T3 |
BF |
01/28/98 |
25.8146 |
Union Fringe |
30 |
Blank |
T3 |
BT |
01/28/98 |
25.8135 |
FICA Burden |
70 |
Blank |
T3 |
CF |
01/28/98 |
1.4333.FR |
Burden Clearing - Fringe |
0 |
30 |
T3 |
CT |
01/28/98 |
1.4333.TX |
Burden Clearing - Tax |
0 |
70 |
Blank |
Blank |
Blank |
Blank |
TOTALS |
100 |
100 |
Type T1 - Disbursement Journal Entries:
Type |
Journal-Entry Type |
Date |
Account |
Description |
DR |
CR |
|---|---|---|---|---|---|---|
T1 |
AW |
02/05/98 |
1.4205 |
Wages Payable |
1000 |
Blank |
T1 |
DA |
02/05/98 |
1.1110.PAY |
Cash in Bank |
0 |
880 |
T1 |
AL |
02/05/98 |
1.4316 |
Savings Bonds |
0 |
50 |
T1 |
AL |
02/05/98 |
1.4332 |
Union Fringe |
0 |
30 |
T1 |
AT |
02/05/98 |
1.4212.EE |
FICA Employee |
0 |
70 |
T1 |
AT |
02/05/98 |
1.4212.ER |
FICA Employer |
0 |
70 |
T1 |
CF |
02/05/98 |
1.4333.FR |
Burden Clearing - Fringe |
30 |
Blank |
T1 |
CT |
02/05/98 |
1.4333.TX |
Burden Clearing - Tax |
70 |
Blank |
Blank |
Blank |
Blank |
Blank |
TOTALS |
1100 |
1100 |