Accrual Process

This system feature offers all companies which use IPS as their payroll application a tool to calculate "accruals". Accruals refer to an accounting process that is intended for taking into consideration any future cash transaction.

The advantage of using this type of calculation is that employee benefits can be accrued and paid based on different parameters which are set by the user. These settings may vary depending on specific company or site policies in terms of local labor law requirements, and/or collective bargaining agreements.

Before running Accrual Process, it is necessary that employee benefits have already been configured. See Benefits Settings for further reference.

To gain access to the Accrual Process feature:

Go to Management, select Payroll Management, and click on Accrual Process.
Select Process Date from drop down menu, or choose option Custom to set a particular date. User may enter date in format mm/dd/yyyy, or use display calendar.
Company Code. Select from drop dowm menu. If user session is restricted to only one company, then field will appear grayed out.
Once company has been set, all local benefits will be displayed in the section Accruals to be Processed. Select the different benefits to be accrued by clicking on the corresponding checkboxes. At least one benefit must be selected.
Click on Save Changes, if all changes need to be recorded. User may leave checkbox inactive if the process will be run with the sole purpose of reviewing the calculation.
Enter user correct email address in field Send Me a Spreadhseet.
Click on Only Undo Changes to delete previously generated changes.
When the process has been completed. The system will send user and email containg all calculation results.