How to view and change the default expense account of Premier Payroll Fees

For Premier Payroll users, payroll feesare funded together with the direct deposit and tax amounts. The systemautomatically creates a funding journal entry to record the payroll fees andclose the payroll float to the bank account.

 

 

 

Below are the steps to view the expenseaccount set-up for premier payroll fees:

 

1. Navigate to Setup > Payroll > Set Up Payroll

*For NetSuite OneWorld Accounts, select theSubsidiary first.

 

2. Click Default Accounts tab > PayrollExpenses Account field

 

To change the expense account, proceedwith the following steps:

1. Selectaccount from the dropdown list next to PayrollExpenses Account field

2.  Click Save

3.  Sync the updates done into the payroll tax engine through the Update Payroll Information screen

     a. Navigate toSetup > Payroll > Update Payroll Information
     b. If you have a NetSuite OneWorld account, select asubsidiary from the dropdown list in the Subsidiary field
     c. Click the Agree checkbox
     d. Click CommitUpdates

    e. Navigate to the To Resolvetab to check for any errors and resolve, if any

 

Note:

The default payroll expense account hasno effect on existing payroll items since the account associated with thepayroll items can be modified through its record