I need to transfer wages and salaries cost to a particular project/wages and salary account to another account. I need Journal options on wages and salaries account.
Kindly advise
This is not possible but you could set up different payslip items for these costs and then either adjust the actual payslips to transfer the costs or use a dummy payslip to credit the old accounts and debit the new ones
@mmi, you may not even adjust the payslips, depending on what payslip items you already have set up. If everything you have charged to the old payslip item and, therefore, posted to one wages and salaries account is to be transferred to another wages and salaries account, all you need to do is modify the account selection in the payslip earnings item itself. All payslips that were posted to the previous account will be moved to the new account. There is no need to adjust the payslips themselves.
Be careful, though, because this will change every payslip you have ever created and charged to the previous account. If you are only changing some of them, you will need to create the new payslip earnings item and adjust the payslips, as @Joe91 suggested. (You can mix the two methods, also, if some payslips are to stay in the previous account.)
Suppose I have 3 projects. I have 20 employees who are working in all Projects. I keep tracking of those employees and need to transfer salaries expenses to particular projects to know exact cost to Complete the project.
You have options:
- Create payslip earnings items for each project. Assign them to individual expense accounts. See Set up payslip items | Manager. This is probably only desirable if the projects are long duration, because once you use the expense account, you will not be able to delete it. It will remain on your Profit and Loss Statement forever.
- Use tracking codes for your projects. See Use divisions for the Profit and Loss Statement | Manager. This option is attractive, because you can add more tracking codes as you add projects, with no limit. You can then create Profit and Loss Statements for each project.
The number of employees is irrelevant.
I don’t think you can use tracking codes with payslip items, so that option will not work with employee costs
You do not assign tracking codes to payslip items themselves. You assign tracking codes to line items on the payslip, which are selected from available payslip items.
I did not mention this before explicitly, but an advantage of using tracking codes is that you can use the same payslip item for all projects where a given type of earnings is used.