The accrual system allows you to automatically 'spread' the amount of the invoice over a stated number of periods of time. For instance, if you invoice maintenance in software, you may invoice 12 months ahead of time.
Here are the steps in creating a sales accrual.
If you are to use an item from inventory, complete filling in the Item No, Shipped, UOM, Price and other fields necessary to ensure they are appropriate for the customer's invoice.
Accrual will not allow items with type inventory, bundle, finished good, raw material, and kit. |
The grid will also allow you to enter miscellaneous items that do not have an Inventory Item record. You can do this by not selecting an Item No and simply entering its Description, Shipped and Price, and other necessary details.
Save the record. The Invoice No field will be filled in with a unique and system generated number.
You can skip saving the record if the transaction is to be posted right away since it will be saved automatically. |
Here is a sample debit memo type invoice.
Let us view the GL entries when this invoice is posted. Click the Recap button. Take note of the Post Date column. Based on the sample invoice, an entry is made for 3 consecutive months, starting with the current invoice date.
The accrual system allows you to automatically 'spread' the amount of the invoice over a stated number of periods of time. For instance, if you invoice maintenance in software, you may invoice 12 months ahead of time. Here are the steps in creating a sales accrual.
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