Monthly Accruals/Accrual List

Navigation: Accounting-Accrual List
Purpose: To enter Corporation Accruals that are linked to a vendor and can be attached to bills.
Note: If you enter them as a journal entry, this will not allow you to link it to a vendor or be attached to a bill.  It will also show up as Other Accrual in the Accrual reports.

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• Click New to create a new Accrual entery
• Click void if you have made a mistake or the Accrual is not needed
• Click Reverse to reverse an accrual that was entered or if there is a remaining accrual after it was attached to a bill.

One the Accrual Form:

• Set the Type (this will default to Operating and can be changed to Reserve)
• Select the Vendor or Unit that is associated with the accrual
• Set the Accrual date (this is the date that will be posted in the General Journal
• Set te Accrual Account (this will default to the Accrual Liability Account set in the Chart of Accounts
• Set the Expense Account that the accrual will be posted to
• Enter the Particulars (Memo) 
• Set the Auto Reverse Date (if this is an accrual that is set for the end of the month and reversed for the 1st of the following month, you can set this here to create the reversing journal entry)