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What is payroll reconciliation or gross reconciliation?

Payroll Reconciliation is a process by which the payroll department compares the current month's payroll with the previous month's payroll in order to understand the reason for any difference.

What is Payroll Statement?

A Payroll Statement is a report that tabulates various payroll components paid to all employees. The statement could be grouped by department, location, etc.

You can think of this as an Excel spreadsheet with one row per employee. The columns are various salary components and each cell is the value of the component for the employee.

The payroll statement can be sorted on employee number, department, or cost center.

What is accounting JV?

Accounting JV (Journal Voucher) is a report that is given to the Accounts department informing them on how amount of salary to be paid, the money to be paid to each statutory department, and how much of loan and other recoveries are done.

The Accounts department will use this to update data in their software.

What is Cost Center wise JV?

Cost Center, Department, or Location wise JV refers to a Journal Voucher that is generated by Cost Center or Department. This means that there will be multiple JVs and each JV will refer to or contain data of employees in that Cost Center or Location.

 

 

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