At a glance
- PayCub turns your pay runs into balanced journal entries, so your books match your payroll without retyping.
- Download as a QuickBooks Desktop IIF file, a Xero manual journal CSV, or a general journal CSV.
- Map each line to your own chart of accounts once. PayCub remembers it.
- Journal export is currently in beta.
What the journal contains
Each entry balances: the cost of payroll on the debit side, and what you owe or paid out on the credit side.
| Line | Side | What goes in it |
|---|---|---|
| Wages expense | Debit | Gross pay for the period |
| Employer CPP expense | Debit | Your employer share of CPP and CPP2 |
| Employer EI expense | Debit | Your employer share of EI |
| Employer contributions | Debit | Employer-paid contributions you've set up as payroll fields |
| CRA source deductions | Credit | Income tax, CPP, CPP2 and EI (employee and employer shares) owed to the CRA |
| Other deductions payable | Credit | Non-statutory deductions you hold for someone else |
| Contributions payable | Credit | Employer contributions you still owe |
| Net pay / bank | Credit | What actually left your bank account for employees |
The amounts come from the same fields as your pay stubs, so the journal agrees with what employees were paid.
Export formats
- QuickBooks Desktop: an IIF general journal file, matched to your accounts by name.
- Xero: a manual journal import CSV, with the tax rate you choose for each line.
- General journal CSV: date, account code and name, description, debit and credit columns, readable by most accounting packages (and by people).
Settings you choose
- Account mapping. Set the account code and name for each line to match your chart of accounts. PayCub starts with common defaults and saves your changes for next time.
- Entries. One journal per pay date, or one summary journal for the whole date range.
- Date format. YYYY-MM-DD, DD/MM/YYYY or MM/DD/YYYY, to match what your software expects.
Journal export is in beta. It's working and being rolled out gradually. Email [email protected] if you'd like to use it, or if your accounting software needs a format that isn't listed here.