Summer Pay Fiscal Year Accruals

Use the Summer Pay Fiscal Year Accruals option to process employees who will receive pay checks after the start of the new fiscal year for work completed in the prior fiscal year. These employees are primarily teachers who are paid through the summer months. This option will create journal entries for the expense accounts that need to be charged in the prior fiscal year and the accruals against the liability accounts. When the payrolls for the summer months are processed, salary and benefits for employees associated with the Summer Pay Fiscal Year Accruals option will be charged to liability accounts defined for the accruals in the new fiscal year.

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