Cintra iQ holds the functionality to produce a costing file that is relevant to your accounting system, so that you can upload the file without having to manually enter the data.
Example
In my company, I have a monthly payroll for the office staff. I have a weekly payroll for the factory staff. My accounting year runs from 01 July to 30 June. It runs in months. There are twelve accounting months and the first will be in July. In July, I'll need Journals covering the month of July payroll and weeks 14-17 of the weekly payroll. I need to produce a journal for those weeks.
Now that you have set up the Cost Codes rules, set up the Accounting Groups and Periods, you can generate a Cost Allocation Journal file to import into your accounting system.
You can extract and re-extract your data for any pay period and the data that is extracted is based on the Cost Codes that you hold in the employee records at the point you run the extract. The extract is for all payments, deductions, and overheads in the period.
Important:
If you extract the data prior to paying out, the Journal will be out-of-balance by the Net pay values.
To extract journal data
- Navigate to the Journal Extract form.
Go to Cintra iQ: Payroll> Payroll Tools> Accounting> Journal Extract - Select the desired Payroll.
- Select the desired Period.
- Click the Extract button. An information message appears stating: Cost journal extracted for [payroll].
- Click the OK button. Another information message appears stating: Liability journal extracted for [payroll].
- Click the OK button. You are ready to assign the monies to the codes.
Note:
The Journal Extract form does not close when the extract is finished, therefore you can extract other payrolls if necessary.