GEM-CAR FAQ
General Ledger Advance
Select an asset account (e.g. 1055 - Advance to Employee) and set it to non-taxable.
- Make a deposit or check
- Make an entry in the ledger
- In the reference, put the employee, the payroll number (optional),
- Enter a tag: to track advances for the employee with a single GL code. Alternatively, create a GL of advances for the employee.
- Enter the transaction
- Save.
Advance to an employee through payroll
Before you begin, you must set up your GL code in advance for an employee.
Go to the Configurations > Configurations menu.
Click on the Payroll tab:
Create an entry for the advance in Other types of income:
- GL of assets (usually in the 1000s)
- Not taxable.
Back in payroll, to make a $1000 advance to an employee, enter 1 as the number and $1000 as the amount.
To take back this advance, enter -1 in number and $1000 in amount.
Release of the advance transaction
Go to the menu Accounting > Report > Balance Sheet.
In the report window, click on Send.
The advance should be reflected in the balance sheet as an asset, as shown below:
Posted 4 months agoby Olivier Brunel
#82255 viewsEdited 4 months ago