The answer should be one. Because Payroll Connected is created as detailed as an accounting program, the employee’s payment information and details are available to you online, all the time, 24/7, meaning that the only information needed on any given payroll run, as far as an accountant is concerned, are the totals. Total deductions and bonuses, total EI, CPP, RRSP Contributions, and of course Wages are all summed up on a single page of the Payroll Run. Because of this great summary page, only one entry is required by an accountant or bookkeeper to track the payroll totals for the year end deductions to be reported correctly.
This is just one more way that Payroll Connected simplifies payroll.
Does Payroll Connected Import to Accounting Software?
Here’s why it’s faster to NOT import payroll data into QuickBooks, Sage 50 or other accounting software, and the reason why we chose not to create an importer (we’re all about speed and efficiency after all).
The first point is that Payroll Connected REPLACES the added-on Payroll Modules of these accounting softwares. In other words, if you’re using Payroll Connected, then you no longer need to pay for the added-on QuickBooks or Sage 50 payroll modules. Payroll Connected tracks each individual employee’s data, pay period by pay period, with multiple comprehensive reports available.
With that established, the only information your accounting software then needs is the total payroll information to update the expense, bank, and liability accounts. With that in mind, the third from last page of the Pay Slip .PDF document is a Wages Summary page that lists the totals for all the payroll numbers, including Gross Pay, Vac Pay, EI and CPP (both employer and employee portions). To enter this information into your accounting, use a simple Recurring or Memorized Journal Entry, type in the numbers, and you’re done! In under a minute, you can have your payroll posted.
If we did make an import/export solution, it would be a bit of a mess to not only program but also to set up. If you can imagine, every company’s different in what numbers they want to track. Some want to track everything, and some want to just enter the total Payroll Expense and call it a day. In addition, everyone’s accounting software and account number/names are set up differently. So in the name of simplicity, one simple journal entry is all you need, instead of downloading a file, opening accounting, and using an importer.