Once you have imported the Chart of Accounts from Xero/MYOB, you will then need to map the various accounts to KeyPay Locations, Sub Locations and Pay Categories.

To map the accounts:

1. Click on the Business Dashboard icon  > Payroll Settings > Chart of Accounts
2. Map the Accounts to the Primary Accounts then click on [Add] to add Locations Specific Accounts
   
   è The Chart of Accounts screen
   
   

Primary Accounts

Primary accounts must be set up to ensure journals are exported correctly and also to link Pay Categories to the correct account. These accounts are the default accounts for all Pay Categories and Locations.

Primary Accounts are:

• Payment Accounts                      > 1-1110 Bank Account (MYOB)
                                                  > 810 Wages Payable (Xero)

• Wage Expense Account               > Default Wages Exp Linked Account (MYOB)
                                                  > Default Wages Exp Account (Xero)

• Default Payroll Liability               > Default Tax/Deductions Linked Payable Account (MYOB)
                                                 > Create a Payroll Liability Account in Xero

• PAYG Liability Account                > 2-1410 PAYG Withholding (MYOB)
                                                  > 812 Payroll – PAYG Withholding (Xero)

• Superannuation Expense            > Main Superannuation Expense (MYOB)
                                                 > Main Superannuation Expense (Xero)

• Superannuation Liability              > 2-1430 Superannuation Liability (MYOB)
                                                  > 814 Payroll - Superannuation Payable (Xero)

• Employee Expense Account          > 2-1490 Employees Reimbursable Expenses (MYOB)
                                                   > 820 Payroll – Employees Reimbursable Exp (Xero)

Pay Categories Accounts

There are four types of Pay Categories:

• Pay Categories                             > Payroll Wage Categories (MYOB)
                                                    > Earnings Pay Items (Xero)

• Deduction Categories                    > Payroll Deduction Categories (MYOB)
                                                    > Deduction Pay Items (Xero)

• Expense Categories                       > No equivalent in MYOB
  (used for employees reimbursable exp)      > Reimbursements Pay Items (Xero)

• Leave / Provision Categories           > Entitlements Pay Categories (MYOB)
                                                     > Leave Pay Items (Xero)

Each of the above categories may be assigned to an individual account. If a category’s account is set to ‘Not Specified’, this category will inherit the relevant Primary Account. So a specific account should be assigned to a category only if this particular category should be reported under a different account in the General Ledger. For Example:

• Pay Categories > Bonus and Commissions

• Pay Categories > Allowances

• Deduction Categories > Each deduction category should be assigned to the relevant liability account
  

Locations and Sub Locations Accounts

If you have created multiple Locations for your KeyPay Business, you will need to create both default and pay categories accounts for each location.

1. Click on [Add] next to Location Specific Accounts
2. Select the Location from the drop-down list
3. Link the relevant account in the same way as the Default Accounts