Payroll Accrual Process in PeopleSoft

posted Jun 26, 2015, 12:17 PM by Peyri Herrera   [ updated Jul 27, 2016, 3:17 PM ]
UPDATED JULY 2016

This information is about the process of payroll accruals in PeopleSoft. Unlike the separate screen in Legacy where districts choose what is accrued, this is an automated process in PeopleSoft.

Payroll

There are no designated screens for Accruals in PeopleSoft. Time worked prior to July is entered on the normal Timesheet (Main Menu > Manager Self Service > Time Management > Report Time > Timesheet). All other transactions (Adjustments, Retro, and Additional Pay) for prior year should be entered on the normal Paysheets (Main Menu > Payroll for North America > Payroll Processing USA > Update Paysheets > By Payline).

Finance

After July Payroll runs, all time worked prior to July that was paid in July is picked up by the Accrual Process. The MITI Finance team will run a process to create GL Journals that will be posted on behalf of districts. The file will be in a CSV format that will be uploaded into PeopleSoft Financials. The Payroll Accrual journal will be posted as a reversing journal so it will post in June and reverse in July.

The accruals entries are as follows:
  • In Prior Year (June): Expenditures are Debited and 9510000 is Credited 
  • In Current Year: The same transactions are reversed by Debiting 9510000 and Crediting Expenditures 

FAQs

Q: Is there a document on how to process payroll accruals?
A: No document is necessary as PeopleSoft automatically processes payroll accruals.

Q: Which months does the accrual process run for?
A: July only.

Q: Are there specific screens in HCM where accruals are input?
A: No. Time worked and adjustments for prior year are entered on the normal Timesheet and Paysheet screens that are in use currently for each month’s transactions.

Q: In Finance, how can I identify Accrual Transactions verses the current month transactions in July?
A: They are identified by Source=PAC, Month= July and Year=2016. The source PAC stands for Payroll Accrual. The description will start with Payroll Accrual. This description can be viewed on the Create/Update Journal Entries page (General Ledger > Journals > Journal Entry > Create/Update Journal Entries) on the “Find an Existing Value” tab. The payroll accrual journal entry will be posted to period 998 in June. There will be one payroll accrual GL_journal for each district.

Q: When will the accrual transactions be posted in July?
A: After Payroll processes are completed the Payroll Accrual process will be run. This process creates the payroll accrual GL_journal entry that will be posted on payday.