Deltek Vantagepoint Help

Using the Help Search
Using the Help Search
  • Phrase:Returns all topics that contain the exact phrase in the search criteria. Use quotation marks around the phrase.
    Ex."system administration"
  • And:Returns all topics that contain all the words in the search criteria, in any combination. Insert a plus sign between all words in the search criteria.
    Ex.system + administration
  • Or:Returns all topics with any combination of words in the search criteria. This is the default.
    Ex.system administration
For more information:Searching Online Help

Posting Payroll and Printing Checks

A processed payroll run is not recognized until it is posted. Once posted, Vantagepoint recognizes the payroll expense, the employer’s FICA expense, and the withholding amounts.

Vantagepoint produces two posting logs each time that you post payroll:

  • Payroll Processing Posting Log: This summary lists the general ledger accounts that were affected by the posting. The report shows the total amounts debited and credited to each account.
  • Payroll Journal: The employee posting detail, including the rate in effect at the time of posting, benefit hours, direct deposit information, and so on.

How Payroll Posting Affects the General Ledger

The payroll posting debits the account specified in the Labor Credit field on the Posting tab of the Accounting Company Settings form (typically the Job Cost Variance account), the Employer’s FICA account, and either the bank associated with a specified Bank Code, or the Salaries Payable account. Vantagepoint also credits a series of withholding liability accounts.

After Vantagepoint posts the labor distribution credit and Job Cost Variance debit, the Job Cost Variance account may contain a balance. This balance is the difference between the labor expense that was costed to projects and the amount actually paid to employees.

The Payroll Processing Posting Log includes a General Ledger Posting Summary section that lists the accounts that were credited and debited for the payroll run. These accounts are established on the Accounting Settings, Payroll Setup, and Payroll Withholding Codes Setup forms.

You can post bonus and other pay amounts to their own cost accounts by entering account information in the Bonus Cost field on the General tab of Settings > Payroll > General or the Other Pay fields on the Other Pay Setup tab.