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Use this form to create and manage accrual schemes.
When you create an accrual scheme, you ensure that an expense or income is posted in the period in which it occurs, regardless of whether the related payment has been made or received in that period.
Example
Accrual schemes could apply to the following:
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Insurance
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Magazine and newsletter subscriptions
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House rent
When you calculate the profit for January you should deduct only the expenses that relate to that month. If you paid expenses for February and March in January, you could set up an accrual scheme to ensure that only the January expenses are deducted in the January profit calculation.
Tasks that
use this form
Navigating
the form
The following links and tables provide descriptions for the controls in this form.
Tabs
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Tab |
Description |
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Create and view accrual schemes. |
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Set up additional information for the selected accrual scheme, such as duration and posting rules. |
Fields
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Description |
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Enter or view identification for the accrual schemes. |
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Type or view a description for the accrual schemes. |
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If transaction text is entered, this will be used on all the accrued transactions. More help… |
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Select whether the posting will be placed at the beginning, middle, or end of the period. |
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Select the calendar type. The calendar type determines whether accruals will be made in accordance with the fiscal year, the calendar year, or a custom period. |
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Select the number of period types this scheme must cover. |
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If the calendar type is an allocation key, select the period key. |
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If the calendar type is calendar or fiscal, choose the posting frequency. |
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When setting up period frequency, the duration of posting frequency is not necessarily the same. For example, a period frequency of two years would typically require monthly posting frequency. If the posting frequency is monthly or quarterly, choose:
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