Posting to A/C in Singapore
Company is giving only Basic Salary to employee.
Deduction is CPF.
What I have to set for posting to Accouting.
Just posting Characterstics of two wage Types?
Devi N replied
After run the payroll, configure the postings to FI.
Already standards symbolic accounts are there(you are copied from MS40, so whatever symbolic accounts is there for MS40,. that symbolic accounts also copied to your custom wage type), If don't want standard symbolic account, create the custom symbolic account and assign to your custom wage type.
Coming into CPF wage types: here we have two wage types; 1. Employee CPF, 2. Employer CPF
These two we need to post to FI.
First tell me, what are CPF(Employee)wage type you are going to post to FI (whether /305, /251)
What are CPF(employer side) wage types are you going to Post to FI (/307, /252)
I forgotton exact wage types, actually /305, series wage types are not there in posting character stics node table (V_T52EK), in this table ,i think so /251 wage type series are there.
IF do you want post /305 wage types, we need configure the wage types and characters in the table of V_T52eK table, IF you use the standard /251 no need to configure again, just assign the symbolic account.
Employee CPF goes to Balance sheet account
Employeer CPF goes to Expenses and Balance sheet account.
To employer CPF wage type we need to assign two symbolic accounts, why because, one account goes to Expenses account, one Symbolic account goes to Balance sheet account.
Then after that assign the symbolic accounts to G/L accounts in OBYE, OBYG.
Salaries symbolic account assign in t.code - OBYE
Employee CPF symbolic account assign in t.code - OBYG
Employee CPF symbolic account assign in both t.codes OBE, OBYG.
Follow the following configuration steps to post results to FI:
Reporting for Posting Payroll Results to Accounting
Activities in HR System
Define symbolic accounts
Define posting characteristics of wage types
Activities in AC System
Assign balance sheet accounts(OBYG)
Assign expense accounts(OBYE)