Creating Payroll Advances

Processing payroll advances is simple with AgExpert Accounting.  In our example, a monthly payroll processor issues advances to employees on the 15^th of every month and then processes wages and deductions at the end of the month.

To start with, on the 15^th we will record the payroll advance.  Click Payroll > Transactions > New payroll > Advances.

In the slide-out that appears from the right-hand side of the screen, enter your cheque date, set your bank account and the next cheque number. A list of your current employees is displayed underneath that section where you can enter any advance amounts as appropriate.

When you’re finished, click Save.  The program will record a transaciton for each employee to record the advance amounts being paid out of the bank account you chose.

At the end of the month, when you process your regular payroll, the advances will be deducted automatically from each employee’s net pay.  Note that by default, the maximum amount available will be deducted to pay back the advance, but you may edit these Advance repayments if desired.

Last updated on July 16, 2020 by FCC AgExpert