Issue : Symbolic Account with GL accounts

[Former Member]

Dear Forum,

I understand that :

several wage type can go to 1 symbolic account ;

1 wage type to several symbolic ;

1 symbolic to 1 gl account ;

several symbolic account to same gl account ;

May I know what is the reason cannot have 1 symbolic account to several gl account (ignore the employee group)?

Thanks

Rgds

[Former Member · Accepted solution]

Hi srina yaya,

If you create one symbolic account to several GL Accounts that creates lot of problems to Accounts people while preparing the Balance Sheet for the year.

Normally company people shows expenses on different heads... for example ... Salaries (GL account). At the end of the year or quarter, the company accounts people show this munch of amount we have spend on Salaries in balance sheet. That Salaries (GL) includes.. (Daily Salaries, Monthly Salaries, Hourly Salaries, Salaries to everybody.... (these are called Symbolic Accounts.. the accounts that are symbolic to Salaries GL account)..

That is why we match several Symbolic Accounts to One GL Account. I think now you get the point.

Regards

Venu Gopal

[Former Member · Accepted solution]

Dear,

Just to clarify further.

Meaning Daily Salaries, Monthly Salaries or Hourly Salaries are individually has a symbolic account to represent? I thought they are wage type?

1 As I know several wage type can map to 1 symbolic account and also 1 wage type to several symbolic account.

So for Daily Salaries, Monthly Salaries or Hourly Salaries, can let me know the relationship between wage type and symbolic acct?

2 Since they are all salary in nature, so map to 1 gl account from various symbolic account. correct?

Thanks

[vikram_n · Accepted solution]

Hi srina yaya

There will be two type of symbolic account one for Exp account & Balance Sheet.

If u want to make the Posting in Daily Salaries, Monthly Salaries or Hourly Salaries u have to use the Employee Grouping and PPMOD Feature.

The Wage type /560 will same this will split according to Emp Group wise.

With Regards

Vikram

[Former Member · Accepted solution]

Dear,

I take salary for example.

May I know Daily Salaries, Monthly Salaries or Hourly Salaries are considered as different wage type? Or Daily Salaries, Monthly Salaries or Hourly Salaries where each of them are symbolic account?

Thanks

Rgds

[Vidushi · Accepted solution]

Dear Srina

It depends upon the FI reporting structure If the salries are posted differently dor daliy Daily salaries,Monthly Salaries etc.You will map the related different wage types to these Daily salaries, Monthly salaries symbolic accounts .( with charasteristic expense) .This symbolic accounts will be posted to different G/L Accounts using the employee sub groups.

Hope this clarify your dounbts.

Thanks & Regards

Vidushi Kaushal