This report can be generated to list re-rent and sales products
with receiving, and billing information, that have been ordered on
a Purchase Orders where the P.O. has been
generated from or linked to a Contract as
outlined in Contract/Purchase Order Link
Overview.
The report calculates unbilled expenses up to a cut-off date and
provides the option to create a self-reversing accrual journal,
posted to the GL through Post Standard
Journals.
The option to Generate Accrual Entries is useful for ongoing
re-rentals where the A/P Invoice from the supplier is still
pending.
By generating the accrual journal transactions each month end, the
future liabilities on re-rents can be properly reflected in the
G/L.
The prompts are:
The cut-off is respected as follows:
Check this box to create accrual transactions in the Standard Journals for the open balance owed to the
Vendor for these products after the spreadsheet is accepted.
The journals will credit the Accrual Liability account and
debit the Accrual Expense account assigned in the Product
Classes and then will reverse these same postings back out as of
the dates defined when the journals are posted in Post G/L Standard Journals.
Note: Each time Accrual transactions are generated in Standard Journals from this utility, the previous Accrual journal is over-written.
Sales and Services ( Type S & V ):
Note: If no P.O. Accrual Expense & Liability Accounts are defined in the associated Product Classes, an error will occur and no Accrual transactions will be written.
If Accrual transactions were created, they can be viewed in
Standard Journals and posted to the
General Ledger from Post G/L Standard
Journals.
The Accrual transactions in Standard
Journals are over-written the next time Accrual entries are
generated regardless of whether they were posted.
Warning Messages include:
Converted from CHM to HTML with chm2web Pro 2.85 (unicode) |