Payroll

SUGGESTED

How do you record payroll expenses in the period they were incurred? If the pay period end date is May 31st but the cheque date is Jun 6th, Sage records the expense on the pay date rather than the pay period end date. Our business uses accrual-based accounting, however, Sage Payroll records on a cash basis accounting. 

Thanks!

  • 0
    SUGGESTED

    Sage payroll is set to agree with the way the government reporting is completed, based on the date of payment. If you wish to report on a true accrual basis at each month end and year end you will have to make a manual adjusting entry. To calculate the entry I would suggest setting up a spreadsheet to complete the calculations each month.