Payroll Journal - EOM

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Payroll Journal - EOM

The end-of-month (EOM) payroll journal entry is a crucial part of the payroll process, as it ensures that all employee compensation is accurately recorded in the financial statements.

The end-of-month (EOM) payroll journal entry is a crucial part of the payroll process, as it ensures that all employee compensation is accurately recorded in the financial statements.

1

Step 1 of 14

<p>Create a new folder March 2026</p><p><span style="color: rgb(0, 0, 0); font-size: 14.6667px; line-height: 1.4;">Location - Sculptform\Finance - Documents\General\Finance\Sculptform AU Pty Ltd\EOM Process - Monthly\2025-2026</span></p>

Create a new folder March 2026

Location - Sculptform\Finance - Documents\General\Finance\Sculptform AU Pty Ltd\EOM Process - Monthly\2025-2026

2

Step 2 of 14

<p>Update the Payroll accrual journal using the last fortnightly payroll.</p>

Update the Payroll accrual journal using the last fortnightly payroll.

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Step 3 of 14

<p>Last fortnightly payroll - Payroll Journal -25-03</p>

Last fortnightly payroll - Payroll Journal -25-03

4

Step 4 of 14

<p>Check the last date cut off for accrual computation 22/03/2026.</p>

Check the last date cut off for accrual computation 22/03/2026.

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Step 5 of 14

<p>Start counting the number of weekdays. Weekends no included.</p>

Start counting the number of weekdays. Weekends no included.

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Step 6 of 14

<p>Sample computation formula.</p>

Sample computation formula.

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Step 7 of 14

<p>Last payrun of the month computation.</p>

Last payrun of the month computation.

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Step 8 of 14

<p>Payroll Accrual Computation for March </p>

Payroll Accrual Computation for March

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Step 9 of 14

<p>Used the Payroll Accrual EOM in recurring</p>

Used the Payroll Accrual EOM in recurring

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Step 10 of 14

<p>Update the entry based on the excel payroll accrual computation.</p>

Update the entry based on the excel payroll accrual computation.

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Step 11 of 14

<p>Sample journal entry EOM</p>

Sample journal entry EOM

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Step 12 of 14

<p>Create a recurring journal entry from the accrual payroll computation to be posted in the next month.</p>

Create a recurring journal entry from the accrual payroll computation to be posted in the next month.

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Step 13 of 14

<p>Accrual payroll computation to be posted in the next month.</p>

Accrual payroll computation to be posted in the next month.

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Step 14 of 14

<p>Sample journal entry to next Month.</p>

Sample journal entry to next Month.