Page 22 - Participant Guide - Unanet GovCon Closing a Fiscal Period (2)

Labor Cost Post

Navigate: Financials > Invoicing & Posting > Labor Cost Post

The Labor Cost Post process provides a means to create journal transactions for costs
related to timesheet entries. The frequency of this post is typically in alignment with a
company’s pay period. Based on Posting Group settings, this posts to:

• DEBIT Various Labor Expenses
• CREDIT Accrued Wages

The value of this post is used to verify the amount on the Payroll Register. The GL
impact of the Labor Cost Post can be viewed by filtering the GL Details report
Document Type to “LC - Labor Cost Post”.

NOTE: Timesheets that have not been submitted, approved, and locked will not be included

Activity 3.2 Perform Labor Cost Post
Login as Glenda Manager (GL Manager) – glmanager / welcome

Activity Steps
1. Navigate: Financials > Invoicing & Posting > Labor Cost Post

2. Perform the Labor Cost Post for 2nd half of the Closing Fiscal Period

INCLUDE ACTUALS IN 2nd Half Fiscal Period Date Range
POST DATE Fiscal Period Post Date
FISCAL PERIOD Closing Fiscal Period

3. What is the Grand Total for the Labor Cost Post? ________________________

4. Click Post
*NOTE: In this specific Unanet database, the accounts are being posted to:
• DEBIT 50.01.01 Direct Labor Client Site
• DEBIT 60.01.01 Paid Time Off
• DEBIT 70.01.01 Overhead Labor
• DEBIT 80.01.01 G&A Labor
• CREDIT 20.05.03 Accrued Wages

LESSON 3: INVOICING AND POSTING
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