Accruals
Creating Accrual Events
Transfer of Accrual Events to the General Ledger
Creating accrual entries
Events – Open view allows the accrual of transactions (expenses or revenues, e.g., insurance invoice) for a desired period. Accrual can be done either for a specific date range or alternatively by specifying the number of months for which the revenue or expense is accrued.
Select the event to be accrued (cost entry, not the entire voucher) and click the Periodicity button, which opens the Periodicity window.
Date - When providing a date range, the share is calculated for each day, and events are recorded for different periods accordingly. For example, if the range is from January 1 (31 days) to February 20 (20 days), the share for January will be 31/51 of the total, and for February, it will be 20/51.
Periodicity months - Based on the accrual months, you can define how many months the selected entry will be accrued. The program will then record the accrual entries from the original voucher date forward for as many months as the user has specified.
Periodicity account is suggested from the settings (Settings – General – Accounting Settings tab). The account can be changed to another at this stage if desired.
Ok selection creates counter entries in the general ledger for the same original voucher number and transfers the accrual reversal entries to the Accruals view (Events – Periodicities).
Note! The program accrues the amount excluding VAT. If it is necessary to accrue the VAT amount as well, it must be done manually with a memo voucher.
Transfer of accrual entries to the general ledger
Events – Periodicities view allows for the transfer of accrual entries to the general ledger, for example, once a month or immediately after the accrual entries have been created. The accrual entries become final accounting entries and receive an accounting voucher number only after they have been transferred from the Periodicities view to the general ledger.
Select the accrual events you want to transfer (checkbox in front of the rows) and click the Transfer into event button in the Periodicities view. The Periodicity window will open, where you select the voucher type to which the accrual entry should be recorded in accounting:
Ok button will create accounting entries from the accrual entry for the selected voucher type. After this, the accrual entries will appear as normal accounting entries and will also be printed on reports.