How to create Accounting Link to between Financio Payroll and ABSS Accounting / Premier Connect Software (Malaysia)

Step 1:  In Financio Payroll, navigate to the left navigation bar and click on “Settings”. From the dropdown menu, select “Accounting Link”

This will allow you to establish a connection between Financio Payroll and your ABSS accounting system.

Step 2: Choose the accounting system you are currently using and click the “Activate” button on the ABSS icon to establish the link to ABSS Accounting Software.

Step 3: Click the ‘Continue Setup with ABSS’ button. This action will prompt the Accounting Link screen to appear.

Step 4: To establish a link with your ABSS Accounting or Premier Connect Account, navigate to the screen that displays the GL Accounts tab and the Journal Entry Definition tab.

i) GL Accounts

First, you need to set up the GL accounts that will be linked to your accounting system. Begin by clicking the “Add” button to include all GL accounts related to payroll double entries.

Example of common use GL Accounts for Malaysia:

ii) Journal Entry Definition

After creating the GL accounts, you can proceed to set the posting double entries in the Journal Entry Definition screen. Click the “Add” button to create a new journal name.

iii) Add Pay Items

Next, add all the payroll pay items you use in Financio Payroll to this journal template. This setup is only required the first time you begin using Financio Payroll.

To add a pay item, select the payroll items listed below and tick the checkbox on the left side. You can select multiple pay items.

Then, assign the Debit GL account and Credit GL account, and save your settings.

Example of Debit and Credit account double entries mapping for Malaysia payroll journal

Important Note: As you continue to use the system, it is crucial to update this list whenever you add new allowances or deductions. This ensures that the double entries remain balanced and that the total salary amount is accurately reflected in your journal entries.

iv) Export Payroll Journal

You can then export the monthly payroll journal text file from Salary Calculation screen, under GL Posting tab:

The sample output journal file is as below:

v) Import Payroll Journal into ABSS Accounting/Premier Connect

To import the monthly payroll journal into your ABSS Accounting/Premier Connect system, go to File >  Import Data > Transaction Journals, select the journal output text file from Financio Payroll system and import.

Notes: Before import the payroll journal,  please ensure all the GL accounts that you created is available in your Chart of Account.

Once successfully import the payroll journal, you can view the GL posting from Transaction Journal screen.