Knowby Sculptform
Knowby
EOM Journal Process - Payroll, Payroll Tax & Workcover
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Step 1 of 21
<p>Payroll Accruals, AL &amp; LSL, Workcover &amp; Payroll Tax Journal Location - Sculptform\Finance - Documents\General\Finance\Sculptform AU Pty Ltd\EOM Process - Monthly\2024-2025</p><ul><li><p>Create a new folder each month (E.g. September 2024)</p></li><li><p>Copy &amp; paste August’s excel sheet &amp; rename it to SEP 2025</p></li></ul><p></p>

Payroll Accruals, AL & LSL, Workcover & Payroll Tax Journal Location - Sculptform\Finance - Documents\General\Finance\Sculptform AU Pty Ltd\EOM Process - Monthly\2024-2025

  • Create a new folder each month (E.g. September 2024)

  • Copy & paste August’s excel sheet & rename it to SEP 2025

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Step 2 of 21
<p>Payroll Accruals, AL &amp; LSL, Workcover &amp; Payroll Tax Journal Location - Sculptform\Finance - Documents\General\Finance\Sculptform AU Pty Ltd\EOM Process - Monthly\2024-2025</p><p></p>

Payroll Accruals, AL & LSL, Workcover & Payroll Tax Journal Location - Sculptform\Finance - Documents\General\Finance\Sculptform AU Pty Ltd\EOM Process - Monthly\2024-2025

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Step 3 of 21
<ul><li><p>Create a new folder e.g September 2024</p></li><li><p>Copy &amp; paste August’s excel sheet &amp; rename it to SEP 2025</p></li></ul><p></p>

  • Create a new folder e.g September 2024

  • Copy & paste August’s excel sheet & rename it to SEP 2025

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Step 4 of 21
<ol><li><p>We do Payroll Journal first</p></li><li><p>Then AL &amp; ASL Calculation – Sabi will do calculations AL &amp; LSL Journal after Sabi sent the calculations.</p></li><li><p>Workover &amp; Payroll tax calculation &amp; journal next.</p></li></ol><p></p><p>Payroll Journal</p><p>Note- If we process this month’s pay (Sep) next month (Oct) then we must create an accrual journal to include this month’s expenses which will be paid next month.</p>

  1. We do Payroll Journal first

  2. Then AL & ASL Calculation – Sabi will do calculations AL & LSL Journal after Sabi sent the calculations.

  3. Workover & Payroll tax calculation & journal next.

Payroll Journal

Note- If we process this month’s pay (Sep) next month (Oct) then we must create an accrual journal to include this month’s expenses which will be paid next month.

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Step 5 of 21
<p>Payroll Journal</p><p>Note- If we process this month’s pay (Sep) next month (Oct) then we must create an accrual journal to include this month’s expenses which will be paid next month.</p><p>Always bear mind adjust the accrue expenses for actual month.</p><p>Example:</p><p>For example, we will pay the last 2 weeks’ pay on Oct 9, 2024, which include 6 days of Sep. In this case we must create payroll accruals journal for 6 days (23 to 30 Sep) in 30/09/2024 and Credit journal on 1/10/2024.</p><p>Open the copied payroll Journal excel spreadsheet</p><p>Copy &amp; paste last payroll figure on Data and update the figure on payroll Journal</p>

Payroll Journal

Note- If we process this month’s pay (Sep) next month (Oct) then we must create an accrual journal to include this month’s expenses which will be paid next month.

Always bear mind adjust the accrue expenses for actual month.

Example:

For example, we will pay the last 2 weeks’ pay on Oct 9, 2024, which include 6 days of Sep. In this case we must create payroll accruals journal for 6 days (23 to 30 Sep) in 30/09/2024 and Credit journal on 1/10/2024.

Open the copied payroll Journal excel spreadsheet

Copy & paste last payroll figure on Data and update the figure on payroll Journal

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Step 6 of 21
<p>Update the Days Update the figure Update the formula = ROUND(D6*5,2) to ROUND(D5*6,2) 6 days</p>

Update the Days Update the figure Update the formula = ROUND(D6*5,2) to ROUND(D5*6,2) 6 days

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Step 7 of 21
<p>-Go to Account -Click Record Journal entry</p>

-Go to Account -Click Record Journal entry

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Step 8 of 21
<p>-Use recurring Journal</p>

-Use recurring Journal

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Step 9 of 21
<p>-Update the figure - Update Memo -Update date</p>

-Update the figure - Update Memo -Update date

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Step 10 of 21
<p>Save this journal save as a recurring so that we can use that to create a credit Journal on 1/10/2024 to minus the expenses of Sep in Oct.</p>

Save this journal save as a recurring so that we can use that to create a credit Journal on 1/10/2024 to minus the expenses of Sep in Oct.

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Step 11 of 21
<p>Use that recurring journal put Minus (-) in that figure on 1/10/2024</p>

Use that recurring journal put Minus (-) in that figure on 1/10/2024

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Step 12 of 21
<p>Use that recurring journal put Minus (-) in that figure on 1/10/2024</p>

Use that recurring journal put Minus (-) in that figure on 1/10/2024

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Step 13 of 21
<p>Delete the credit journal - Recurring</p>

Delete the credit journal - Recurring

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Step 14 of 21
<p>Delete the credit journal - Recurring</p>

Delete the credit journal - Recurring

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Step 15 of 21
<p>Then AL &amp; ASL Calculation - Sabi Go to report Export P &amp; L &amp; paste to AL &amp; LSL ( P&amp;L Side) Excel sheet Email to Ken saying you have done EOM payroll journal</p>

Then AL & ASL Calculation - Sabi Go to report Export P & L & paste to AL & LSL ( P&L Side) Excel sheet Email to Ken saying you have done EOM payroll journal

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Step 16 of 21
<p>When he said he done the AL & LSL then you can do a journal Go to Account -Click Record Journal entry -Use recurring Journal - Change Memo & date - change figure as per excel sheet Note if there is a slight difference change the debit side at Production AL&LSL</p>

When he said he done the AL & LSL then you can do a journal Go to Account -Click Record Journal entry -Use recurring Journal - Change Memo & date - change figure as per excel sheet Note if there is a slight difference change the debit side at Production AL&LSL

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Step 17 of 21
<p>Workcover & Payroll tax Accrual Journal When you done AL & LSL Go to report Export P & L & paste to Workcover & Payroll tax Sep Excel sheet</p>

Workcover & Payroll tax Accrual Journal When you done AL & LSL Go to report Export P & L & paste to Workcover & Payroll tax Sep Excel sheet

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Step 18 of 21
<p>Change total payroll tax figure to paid figure(from Ken’s email) At the bottom of the line then it will automatically populate or compute on the account for journal.</p>

Change total payroll tax figure to paid figure(from Ken’s email) At the bottom of the line then it will automatically populate or compute on the account for journal.

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Step 19 of 21
<p>Workcover figure will remain same every month</p>

Workcover figure will remain same every month

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Step 20 of 21
<p>For Journal Go to Account -Click Record Journal entry -Use recurring Journal - Change Memo & date - change figure as per excel sheet Workcover Journal</p>

For Journal Go to Account -Click Record Journal entry -Use recurring Journal - Change Memo & date - change figure as per excel sheet Workcover Journal

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Step 21 of 21
<p>Payroll Tax Journal</p>

Payroll Tax Journal