Running Payroll with Retroactive Accounting

Objective

After completing this lesson, you will be able to Run payroll with retroactive accounting.

Running of Payroll with Retroactive Accounting

Lesson content

The following topics will be covered:

  • Basic retroactive accounting introduction
  • Retroactive accounting scenarios
  • Retroactive accounting limitations
  • Retroactive payment processing

Payroll scenarios

Note

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Process a Retroactive Payment

Business example

You have run the payroll for previous periods, and are about to run the payroll for a new period. However, you want to make some changes in the payroll period of the past. For this reason, you need to know how to process a retroactive payment.

Record the payment of a vacation bonus for a period for which payroll has already been run.

Processing retroactive payments

ExerciseStart Exercise

Retroactive Accounting - Limiting Criteria

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