I can't post a year end adjustment to one of my accounts from the GJ window. It is my vacation payable account. I assume it is because it is linked to other payroll accounts but I am not sure how to now reverse it. The amount in the account is from various employees over the year. If I need to make a reversing entries through the payroll module, how do I do that? Please help!
Did you check your Data Integrity to see if it is out of balance first?
If your vacation payable account matches the total of all vacation pay accumulated by all employees and the intent is to reverse vacation pay for some employees, then the only way to do it is the reverse of how you got the money on the employee's record and into the Vacation Payable account to begin with.
You used a paycheque to put the money into their vacation pay, so you must use a paycheque to remove it. A positive amount put it in, a negative amount will take it out.
If the total on the entry is for 5 employees, you must enter 5 paycheques to remove it from each of the employee's ledgers. Don't use a real cheque number, use the same info you use in the General Journal Source field (eg YrEndCA4 - would be the fourth adjusting entry from the CA or CPA if you prefer). In this case, you would likely need to append -1, -2 etc. for each of the 5 entries. Use the same date as the general journal entries, the fiscal year end date.
Before you make any changes to each employee's cheque, make sure you look at the Journal Entry from the Report menu and make sure it is blank (ie. not journal entry), then enter the correct info in the Vacation tab and look at the journal entry to make sure it matches the accountant's entry for that portion of the entry. Then post.
The total of the 5 entries in my example, should match the total of the year end adjusting entry.
Hope this helps