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Overview:

The Chart of Accounts window lets you add new general ledger accounts by establishing a unique name and account number for each account and entering information about the account's status, classification, and type. If your organization is a Multi-Currency user of PENTA, you can also indicate the currency in which the account is denominated. After entering this information, you can validate the account for all or select organizational units. This window also allows you to query and modify existing accounts, including inactivating accounts that are no longer used.

Benefits:

• Provides an accurate record of all financial transactions
• Aids in compiling key financial statements
• Provides the ability to authorize general ledger accounts for one, some, or all organizational units
• Provides subledger requirements and ensures the ledger is always in balance with the subledger details

Roles:

• Accounting Manager
• CFO

Additional Content

• Add additional content here as needed
• Example: Video may not cover the details of on us information in the bank account information window. A link to a KCS article should be listed that contains that detailed information that is relevant to this topic

Location:

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Use the Hours Classification Codes window to define parameters for an Hour Classification Code for the different types of hours worked. Examples include: direct labor on job cost, vacation, sick time, and jury duty. You can specify attributes for each Hour Classification Code (e.g., default expense account) and indicate whether PENTA includes these hours on union reports or if PENTA includes them on the basis of overtime conversion rules.

Linking a Paid Time Off Category Code to an Hour Classification Code will reduce the outstanding Paid Time Off balance by the hours entered with the Paid Time Off Category Code. This allows you to maintain a current Paid Time Off balance for each employee and Paid Time Off Category Code.

Benefits:

• Allows for defaulting various information on timecards such as Organizational Unit, Account, Paid Time Off Category Code, etc.
• Hour Classifications determine which hours should be reported to unions, and which are included in the basis for Fringe Benefit calculations
• For Canadian payroll, you can set up Hour Classification Codes as eligible for overtime banking, ROE, and Employment Insurance (Earnings and Hours)
• Optionally print a summary of hours worked broken down by Hour Classification Code on the employee check stub

Roles:

• Payroll Manager

Additional Content

• Excluding hours from union fringe benefit calculations

Location:

• Payroll > Setup > PTO, Hours Classification Codes and Overtime Rules > Hour Hours Classification Codes

Video: