Running Payroll with Retroactive Accounting

Objectives
After completing this lesson, you will be able to:

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

Retroactive Accounting - Limiting Criteria

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