How to Configure Pay Company Finance Integration Accounts

The financials configuration is used for integration with third-party finance systems. It allows financial data pertaining to the pay company to be mapped to the appropriate balance sheet and profit/loss accounts in the financial system used by your business.

To configure the financial integration for a pay company, follow the procedure below.

1.	If the relevant pay company record is not already open in the Add / Edit Pay Company screen, search for and open the relevant record.
2.	On the Pay Company Entry screen, click the Financials tab. The Financials* tab* is activated.
3.	In the Net Acct. field, key in the balance sheet account to which net pay amounts paid by the pay company are mapped to in the financial system.
4.	In the Tax Acct. field, key in the balance sheet account to which tax withholding amounts withheld by the pay company are mapped to in the financial system.
5.	In the GST (On Contractor Wages) Acct. (Balance Sheet Accounts) field, key in the balance sheet account to which GST amounts, which are payable on independent contractors' earnings, are mapped in the financial system.
6.	In the Unpaid Wages Acct. (Balance Sheet Accounts) field, key in the balance sheet account to which wage amounts, which are yet to be paid but have been invoiced, are mapped in the financial system.
7.	In the GST (On Contractor Wages) Acct. (Profit/Loss Accounts) field, key in the profit/loss account to which GST amounts, which are payable on contractors' earnings, are mapped in the financial system.
8.	For UK Payroll In the VAT (On Contractor Wages) Acct. (Profit/Loss Accounts) field, key in the profit/loss account to which VAT amounts, which are payable on contractors' earnings, are mapped in the financial system.
9.	In the Unpaid Wages Acct.(Profit/Loss Accounts) field, key in the profit/loss account to which wage amounts, which are yet to be paid but have been invoiced, are mapped in the financial system.
10	Click Save. The pay company record is saved.