There’s more to payroll funding than position funding. To make sense of the payroll transactions that post to the general ledger, account codes classify the kind of earnings and benefits processed by payroll and are used to post fringe rates and encumbrances.
The HCM payroll encumbrance calculation process is an important way to track projected payroll obligations—such as payroll, taxes and deductions—in the general ledger.
Some faculty with nine-month academic year contracts may choose to have their pay distributed over a longer time period. Understand how these extended payouts align with fiscal year budgets and the general ledger.
New international employees and stipend recipients are required to complete a Sprintax Calculus profile to submit details and documents necessary to determine their U.S. tax residency status and ensure accurate taxation of their pay.
