At times, you may want to analyse the composition of net wages balances for a specific period. The Contractor Accounts screen provides detailed insights into net wages, allowing you to track and review relevant data. This article will guide you through accessing and utilising the Contractor Accounts screen to obtain net wages information.
Accessing the Contractor Accounts Screen
To navigate to the Contractor Accounts screen:
Click on the menu icon.
Select Financial Accounting > Contractor Accounts.
This will direct you to the relevant screen where you can review net wages details.
Key Information Section
The Key Info section contains four key data points. If needed, you can click on the Hide Info button to collapse this section.
Opening Balance: The net wages opening balance for the selected period, is also visible in the Trial Balance (TB) report for net wages.
Net Wages Processed: Includes processed payroll and advance payment details during the selected period.
Net Wages Paid Out: Represents net wages matched in the bank for the selected period.
Closing Balance: The net wages closing balance for the selected period, which can also be verified in the TB report.
Retrieving Net Wages Data
To retrieve net wages data, specify the "As on" date. The system will fetch all net wages information for the financial year corresponding to the selected "As on" date up to that date.
For example, if the financial year runs from 01/04/2023 to 31/03/2024, and you set the "As on" date to 01/01/2024, the system will provide net wages data for the period from 0104/2023 to 01/01/2024.
Available Actions
The Contractor Accounts screen provides several options to refine and export net wages data:
Filter by Contractor Name/Number: You can narrow the results by filtering data based on contractor name or number.
Export Data: Click on the Export button to download the information as an Excel file.
View Details: Click the View icon in each row to review specific details. This will open a detailed view where you can:
Modify the start date and end date. You need to ensure they fall within the financial year and selected "As on" date on the main screen.
Apply additional filters using transaction type.
Export the filtered data as an Excel file.
By following these steps, you can effectively retrieve and analyse net wages balances for any given period, ensuring clarity and accuracy in financial reporting.
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