The Accounting tab contains company-wide settings used to configure SmoothPay’s accounting outputs, liability accounts, GST treatment and default costing settings.
The available Ledger type determines which accounting output and posting options are available.
For more information about configuring and using accounting outputs, refer to:
<Accounting integration>
Making changes
The Accounting tab contains a detail panel only.
Changes are made using the Edit button.
Accounting integration
Ledger type
Type: Dropdown menu
Purpose: Selects the accounting package or general-ledger output format used by SmoothPay.
Dependency: None
Other functionality: The selected Ledger type determines which Posting options are available.
Posting
Type: Dropdown menu
Purpose: Determines how accounting information is output for the selected Ledger type.
Dependency: The available options depend on the selected Ledger type.
Other functionality: None
Holding accounts
The holding-account fields assign current-liability accounts to the corresponding payroll values used in supported accounting outputs.
The available accounts are drawn from holding or current-liability accounts configured under Cost centre (account) codes in the Codes screen.
Bank
Type: Dropdown menu
Purpose: Assigns the current-liability account used for bank values in accounting outputs that support this mapping.
Dependency: Requires an appropriate holding or current-liability account to exist under Cost centre (account) codes.
Other functionality: The field is only used by accounting output formats that support a Bank account mapping.
Net wages holding
Type: Dropdown menu
Purpose: Assigns the current-liability account used to hold net wages in the accounting output.
Dependency: Requires an appropriate holding or current-liability account to exist under Cost centre (account) codes.
Other functionality: None
Tax holding
Type: Dropdown menu
Purpose: Assigns the current-liability account used for payroll tax liabilities in the accounting output.
Dependency: Requires an appropriate holding or current-liability account to exist under Cost centre (account) codes.
Other functionality: None
Deductions holding
Type: Dropdown menu
Purpose: Assigns the default current-liability account used for deductions in the accounting output.
Dependency: Requires an appropriate holding or current-liability account to exist under Cost centre (account) codes.
Other functionality: Used as the default holding account where a deduction does not have another applicable account mapping.
GST content
Type: Dropdown menu
Purpose: Assigns the current-liability account used for GST content where GST applies.
Dependency: Requires an appropriate holding or current-liability account to exist under Cost centre (account) codes.
Other functionality: None
GST amounts
Type: Dropdown menu
The available options are:
None
Inclusive
Exclusive
Purpose: Determines whether GST calculations are enabled and whether GST is calculated inclusively or exclusively of the applicable values.
Dependency: GST calculations require additional GST configuration elsewhere in SmoothPay.
Other functionality: Selecting None prevents SmoothPay from performing GST calculations. Inclusive and Exclusive enable GST calculation using the selected treatment where the remaining GST requirements have been configured.
For more information about configuring GST, refer to:
<Independent contractors>
Defaults for new staff
These settings determine the default costing values assigned when new employee records are created.
Default cost centre
Type: Dropdown menu
Purpose: Selects the default expense account assigned to new employees.
Dependency: The available options are expense accounts configured under Cost centre (account) codes in the Codes screen.
Other functionality: None
Default job
Type: Dropdown menu
Purpose: Selects the default Job or Tracking 1 value assigned to new employees.
Dependency: The available options are drawn from the corresponding Job or Tracking 1 category in the Codes screen.
Other functionality: None
Default activity
Type: Dropdown menu
Purpose: Selects the default Activity or Tracking 2 value assigned to new employees.
Dependency: The available options are drawn from the corresponding Activity or Tracking 2 category in the Codes screen.
Other functionality: None
Cash rounding
Type: Dropdown menu
Purpose: Selects the expense account used to record differences created by cash rounding.
Dependency: The available options are expense accounts configured under the Cost centre (account) codes category in the Codes screen.
Other functionality: None
Additional functionality
Posting spanner
A spanner button appears beside Posting.
The spanner opens additional accounting settings that are specific to the selected Ledger type. The settings available therefore vary depending on the accounting output or integration being used.
For more information about these settings, refer to:
<Accounting integration>
Default cost centre spanner
A spanner button appears beside the Defaults for new staff section.
The spanner provides bulk tools for applying costing-analysis settings to either CURRENT pay entries or ALL pay entries.
The CURRENT pay entries options affect the active payrun only.
The ALL pay entries options can affect both current pay entries and pay history.
Where an option that includes ALL is used, it is strongly recommended to make a backup first, as this cannot otherwise be reversed.
The available options are:
Push employee dept to CURRENT pay entries
Apply COST CENTRE to CURRENT pay entries
Apply JOB/TRACKING1 to CURRENT pay entries
Apply ACTIVITY/TRACKING2 to CURRENT pay entries
Apply ALL costing analysis options to CURRENT pay entries
Push these costing analysis options to CURRENT pay entries AND contracts
Push employee dept to ALL pay entries
Apply COST CENTRE to ALL pay entries
Apply JOB/TRACKING1 to ALL pay entries
Apply ACTIVITY/TRACKING2 to ALL pay entries
Apply ALL costing analysis options to ALL pay entries
Push these costing analysis options to ALL pay entries AND contracts
Options that also reference contracts apply the selected costing settings to employee contracts as well.