Issue at Posting to FICO

Question

Hi
Iam new to SAP-HR, I had an issue at posting to FICO. I had some wage types like basic, HRA,convayence, PT,ESI,PF ...... i want to create Symbolic account for these. I want to know what symbolic is related to what? i,e for basic what symbolic account we have to create are link(name of symbolic account).
Thanks in Advance
Sudha

Answer 1

Hi,
Symbolic aacounts are theones which act as a bridge between wagetyes on the HR side and GL accounts on the FI side.
TO get al ist of all the symbolic accounts and or to create one you can got to the following IMG node.
Payroll>Posting to financial accounting>activities in the HR system
Now to relate the wagetypes to a symbolic account , you need to identify what kind of amount gets into wagetypes.
A simp;le example...
consider Basic Pay (M002) is 1000
               employee Taxes--200
               /559(amount paid to bank)--800
Now  since we are passing info to the FI system, we need to think from the employers perspective.
fom the employer's perspective, basic pay to an employee is a expense to the company.
hence the basic pay should be assigned to a expense account.
So in the system ,we pick out a symbolic account of type expense and assign the basic pay wagetype to it.
alternatively navigate to Payroll>Posting to financial accounting>activities in the AC system
then ensure the symbolic account is assigned to a valid GL expense account.
the employee taxes and amount paid to bank are amounts  that are going out to be  paid to the tax authorities and the bank.
Hence we assign this to a symbolic account of type balance sheet.
If we have a employer contribution wagetype, it will have to be assigned to both an expense account as it is an expense to the company and also a balance sheet account as it has to be paid to an employee or suthority according to the requirement.
Kindly let me know if you have any further queries.
thank you,
Jose