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Payroll Accrual Fiscal Year 19

Since Timesheet 2019026 only covers wages and fringes through June 22 (paycheck June 28th), we need to “estimate” the portion that would cover the remaining days of the Fiscal Year.

Early July, Financial Services will use 8/14ths of Payroll 2019026 distribution as an accrual estimate (days 6/23-6/30 highlighted in yellow), booking the expense in FY19 and reversing it immediately in FY20.

The accrual will allow campus departments to calculate total payroll expenditures for the fiscal year.