Advantage April 2013
April 2013 Newsletter
From The Top
By Rob Basso
President, Advantage Payroll Services
When the general ledger was first created, it was called an accounting ledger and was a physical book used to record a company’s transactions. We’ve certainly come a long way since then, with the majority of companies using computer software to maintain their general ledgers.
Maintaining your general ledger is time consuming; manually entering your payroll data only makes the process more complicated. In an effort to streamline that process for you, Advantage is proud to announce its general ledger interface, which provides you with a file to import into your accounting software. This process reduces the tedious task of manually posting that journal entry as well as reduces costly errors that can result from these manual entries.
Q & A Portion
1. What is the General Ledger Interface?
General Ledger Interface is a process that allows Advantage to map your general ledger accounts to different payroll items. Once this is complete, we are able to create a file each time a payroll is processed. This file can be imported to create a journal entry in your accounting software to record your payroll.
2. What are the benefits of interfacing General Ledger and my payroll?
A general ledger interface relieves the person responsible from posting the payroll of that task and instead provides a file that they can import to their accounting software. The journal entry is then posted to their software, eliminating time spent on data entry.
3. What are some of the online accounting programs and software’s that your product interfaces with?
Our General Ledger Interface works with the following programs; MS Dynamics, Sage, Thomson Reuters, Great Plains, MS Money, Peachtree, Quickbooks; to name a few.
4. Do I receive any reports? If so, what reports are included?
Yes, in addition to the file you will receive a report that shows the journal entry that is contained in the file. The report includes the General Ledger Account, Account #, Description, and debit or credit amount.
5. Is this secure? How is this accessed?
The file is accessed by logging in to Instant Payroll online reporting via internet. Instant Payroll utilizes VeriSign for state-of-the-art internet security.
6. What do I need to do to get started?
Contact your Customer Service representative and provide them with a Chart of Accounts and a print out of your most recent payroll journal entry. Feel free to ask your representative any additional questions you may have. Remember, we are here to help!