Beginning in Fiscal Year 2016-17, Payroll will change the way that accrual amounts for biweekly employees are posted to the General Ledger. The new accrual amounts will be calculated monthly and will estimate the remaining salary and benefits amounts that biweekly employees will earn in the current month but will not post as an expense to the General Ledger until the following month.
The new accrual amounts will be posted monthly at the full chartstring level as part of the monthly payroll journal and will be visible in MyReports. A reversal of these accrual amounts will be posted to the General Ledger along with the actual payroll expenses in the next monthly payroll journal.
This change will provide increased visibility of biweekly pay accruals, standardize the method of estimating and posting accruals for biweekly payroll expenses across all Business Units at UCSF, and align data across UCSF financial reporting tools.
The first biweekly payroll accruals in FY2016-17 will appear on the General Ledger in early September as part of the August monthly payroll journal posting. Look to future editions of the Controller’s Office Newsletter to learn more about the new biweekly payroll accrual process and to find out about training opportunities.