Reconcile Retroactive Payroll Payments
Payroll integrates with Cash Management, which facilitates the reconciliation of bank statements with payment transactions. Payments are reconciled after you receive the bank statement and reconciliation file.
Evaluate the results of the retroactive pay process between running the retroactive pay process and the running of the Calculate Payroll process.
Use these two key reports to reconcile retroactive pay results:
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The Run Retroactive Notifications Report
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The Run Retroactive Entries Report
Once all your changes are made, run the Run Retroactive Notification Report to get a list of all the employees with prior period system events within the retro event group in real time.
Manage Discrepancies
The reconciliation process identifies unexpected results.. If there is a discrepancy, you must research and take action to resolve.
Now that you have resolved your discrepancies, begin the retroactive process and review by performing these steps:
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Run the retroactive pay process.
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Run the Retroactive Entries Report to review the element entries created by the retroactive pay process.
Note: Use the detailed information in this report to help you troubleshoot to resolve the unexpected results.
The most common retroactive pay discrepancies occur when the retroactive pay process completes, but it produces unexpected results. Using the Retroactive Entries Report can help identify what changed to generate the retroactive entry. You can also go back and refer to the Retroactive Notification Report to see the events that caused the change.
If you can't reconcile a retroactive entry before you run the Calculate Payroll process, offset the retroactive entries instead of deleting them. If you delete the entries, you may cause issues later, such as if the periods are included in other retroactive pay runs. Use the original retroactive element to offset the amounts.