Fingercheck General Ledger account mapping to your accounting software account types reference guide:
If you want to integrate your accounts in Fingercheck to your accounting software’s general ledger, you’ll need to know how to map the accounts properly. The four main accounts in a general ledger should be:
Bank Account: The bank accounts used for the transactions of your business.
Expense: This account includes items you pay for to fund basic operations (generally on a monthly basis). Costs include payroll, employer taxes, and employer-paid benefits.
Liability: Liabilities are debts you owe and costs that must be paid to keep the company running. Costs include employee taxes, employee-paid benefits, and loans.
Workers Comp: The workers compensation insurance expenses you incur.
The following table outlines the recommended way to map the accounts.
Fingercheck Account/Code | Account Type | Example |
Direct Deposit, Net Checks | Bank Account | Bank transactions |
Wages and salaries | Expense | Employee earnings |
Employer taxes | Expense | Taxes that the employer pays |
Employee taxes | Liability | Taxes that the employee pays, withheld by the employer and paid on the employees' behalf |
Benefit expenses (employer) | Expense | Premium payments paid by the employer |
Benefit deductions (employee) | Expense | Premium payments paid by the employee, withheld by the employer, and used to offset the employer's full benefit expense |
Deductions and garnishments | Liability | Child support payments, withheld by the employer, and paid on the employees' behalf |
Reimbursements | Expense | Mileage reimbursement, paid directly to the employee |
Workers Comp (employer) | Expense | Premium payments paid by the employer |
Disability/ Paid Family Leave (if applicable by state) | Expense | Premium payments paid by the employee, withheld by the employer, and used to offset the employer's full benefit expense |