Costing Adjustments are used to move a previously costed amount from one Cost Account to another. The Costing Adjustment transaction moves values associated with a specific employee and pay period in the current Financial Year. The adjusted values are reflected in the pay period nominated in the transaction, not the current pay period. You cannot perform a Costing Adjustment for a period in a previous Financial Year.
Costing Adjustments affect the Costing Report immediately. There is no need to complete an End of Pay to apply the changes. This is a purely historical process. Adjustments made are not reflected in the employee's current pay.
To amend where a Tax Adjustment (or extra tax) amount has been costed, use Manual Calculation.
To perform a Costing Adjustment:
Backup of your payroll database. Enter the Description 'Before Costing Adjustment for Employee xxx'
Go to Payroll, Transactions, Adjustments, Costing Adjustment.
Select the required Employee.
Select the Period End Date to correct. Only processed pay periods are available.
In From Cost Account, select the incorrect cost account.
From the Pay Summary section, select the pay component to adjust.
Click Add. The YTD and Period fields are read-only.
In To Cost Account, select the Cost Account to move the values to. The fields displayed in the transaction grid will vary depending on the pay component being adjusted. Enter the relevant information, e.g. Leave Reason.
Enter the Hours and Amount to be adjusted.
Press the Tab key to move off the entry row.
Repeat steps 5 - 9 for each pay component to be reallocated.
Click Process to complete the transaction.
In the message, click Yes to update the changes.