How do I Issue Staff Salary Payment?

How do I Issue Staff Salary Payment?

Scenario

How do I Issue Staff Salary Payment in OCi Accounting System Version 10

Solution

There are a few methods to go about doing it depending on your nature of business and how you want to make use of your chart of accounts.
 
Here is one method.

Steps 1

  1. To create a Chart of Account Click SETUP -> ACCOUNT -> CLICK CHART OF ACCOUNTS MODULE
  2. First make sure the account is not exist on your system, if not then you can setup a Current Liabilities Account name CPF Suspense. Click New Button.
  3. Key in the Account Code with a Prefix "CLI" then use the available numbers as per your system choose the Account Category Current Liabilities.
  4. Type the Description as "CPF Suspense".
  5. Click Add button.


Steps 2

  1. To create a Payment Voucher Click PURCHASE -> PAYMENT-> CLICK NEW BUTTON
  2. Select Non-Trade under Payee Type.
  3. Enter the employee name on Payee text box.
  4. On Mode select the Bank.


  1. Select STAFF SALARY for account and enter the amount .
  2. However, the staff needs to contribute to CPF. Enter the amount in negative they have to contribute into Suspense CPF. Company is collecting on behalf. 
  3. As a Chinese, he needs to contribute to CDAC $1, and company has to collect on behalf. 
  4. As the employer have to pay staff CPF, $310 in entered into Employer’s CPF. A negative $310 is then reverse out to Suspense CPF.
  5. Basically these 2 lines of entry is to account for the employer CPF contribution, and register for later payment to CPF board.
  6. Last, we enter SDF contributions. In this example, we have reversed out a total of $716 to be paid to CPF board in Suspense CPF Account. This is to facilitate later payment. 
  7. Click ADD to save.

Steps 3

  1. We need to create one more Payment Voucher to pay the CPF Board now.
  2. To do this click PURCHASE -> PAYMENT-> CLICK NEW BUTTON
  3. Select Non-Trade under Payee Type.
  4. On Payee key in CPF Board
  5. Cheque Payee Text Box also will be copied as same when you click inside.
  6. Last, we enter SDF contributions. In this example, we have reversed out a total of $716 to be paid to CPF board in Suspense CPF Account. This is to facilitate later payment.
  7. Click Add Button.


Steps 4

  1. We need to Verify the Trial Balance Report.
  2. To do this click REPORT -> FINANCIAL-> TRIAL BALANCE
  3. Select the Period then select the date from and to, next click refresh button to verify the report.


Done.

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