Costing
The Talent2 HRIS Costing Capability provides a comprehensive and flexible costing system which allows you to cost your leave accruals, balances and payroll details and interface the results to your general ledger. Results are also available for detailed reporting and analysis of the costs.
Multiple general ledgers and complex allocations are provided for including the ability to reallocate data. Postings can be established as accruing or non-accruing and generate reversal transactions.
In addition to the standard reporting facilities provided, ad-hoc reporting tools such as Oracle Discoverer can be used to provide an additional level of analysis, and export data.
Formula Driven General Ledger and Reports
At the heart of costing capability is a powerful formula processor, which provides maximum flexibility to define calculations through user configurable formula.
Complete with a rich set of mathematical functions, the costing capability allow you to conveniently work with your payroll and leave components to construct or manipulate raw costing data for General Ledger transactions or reporting purposes.
The formulae can be used to generate:
- Debits/Credits for dollars and hours
- General Ledger Account Numbers
Costing Datasets
Costing Datasets allow you to keep pay group costing details completely separate and can also be costed using different frequencies. For example, this allows you to cost one group monthly and a second group fortnightly.
Multiple pay groups can also be consolidated into one costing dataset number and costed together if required.
Costing Calendars
The costing capability has its own costing period structure. This allows your costing period to have a different frequency to your pay frequency. So for example, you can pay your employees fortnightly, but cost them monthly. For each costing period, you define which pay group and pay periods and leave entries are to be included. Pay period calendar costing totals provide a quick way to reconcile costing to payroll transactions.
Where pay periods do not align with costing frequency, accrual and reversal entries can be created based on a nominated percentage. You are not limited to the last pay as this accrual can be based on any pay period.
Leave Costing
The costing capability allows you to cost Leave Accruals and/or Leave Balances. This costing takes into account employee salary rate changes.
Cost Code Substitution
If the payroll data is not quite in the shape you would like it then the costing capability provides several ways, such as account reallocation, to manipulate the codes and amounts to give you the financial breakdown you are after.
Salary Costing
Reporting
The standard cost report is highly flexible and allows you to define the content of each data column, together with the column headings. You can configure which pay components are accumulated into total cost, total oncost, and which hours make up productive hours and unproductive hours. The report parameters provide options to print costing detail at an employee level for a defined pay period, a costing period, or both. Totals can be accumulated to three levels, a defined pay period, costing period to date and year to date. There are also detailed audit trail reports and on-line enquiry screens which track the costing data through the various costing processes.
User Configurable Costing Reports
Aside from the standard cost report s offered, a flexible report writer allows you to define your own costing reports including the layout and content of each report.
Reporting can be provided at an employee level, or consolidated for management labor costing analysis and control.
Report options include costing period and year to date comparisons and calculations. Typically uses for the reports include Payroll Tax and Workers Compensation Payments reconciliation.
General Ledger Interface
The General Ledger Interface provides a comprehensive audit trail, together with the convenience of a single posting report. Automatic batching and balancing can be utilised if desired. You may set up descriptions for the General Ledger account numbers, and these will be printed on reports where applicable.