Accruals
Sales and Purchase Contras enable you to generate Accruals against a transaction. For example, you raise an invoice for an Annual Renewal but do not want to realise the full value of this sale in the current accounting period, but want to apportion 1/12 of the value per month.
Transactions are entered as normal.
The following transactions are affected by the Accruals feature:
Sales Ledger Invoices and Credit Notes
Purchase Ledger Invoices and Credit Notes
Sales Order and Credit Notes
Purchase Orders and Credit Notes
PIR Invoice Details
Accruals Setup
The instructions below describe the process for the Sales Ledger; however, the same process applies to the Purchase Ledger.
From System Options, select Sales Ledger Options
On the Transactions tab, select the checkbox Use Sales Ledger 'Accrual'
Use the lookup button to locate the appropriate Nominal Code, or enter the code manually
Tick the Use Schedule checkbox, if appropriate
Save your Settings
Save the Options window
Analysis Records Setup
The method used describes the Sales Ledger; but the same process is used for the Purchase Ledger.
From the Debtors Ribbon, select Analysis
Using the Sales Ledger Analysis window, select the required analysis Code
Using the Sales Ledger - Analysis window, select the Edit button
On the Accruals tab, tick the Accrual checkbox and enter the number of Periods
Save the changes
Close the Sales Ledger - Analysis window