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ACCRUAL VOUCHERS
While entering a voucher, hit <F4> to flag the voucher as an accrual. Then post the voucher. Do not go to SELECT VOUCHERS because once the voucher is selected, the "accrual" status is lifted. You would only select it if the actual voucher had been received within the same period and you wanted to expense it rather than accrue it. When the accrued voucher is actually posted, a reversal voucher is automatically generated. It is dated for the first day of the next period.
For example, in NAME AND OPTIONS in Accounts Payable, your last closed date says 9/30/93 and you post an accrual voucher dated 10/16/93. When this voucher is posted, the system creates and posts the reversal voucher dated for 11/1/93. In the next period, when you want to expense this voucher, go to SELECT VOUCHERS and pull up this voucher. It will have an "accrued" status. You then normally select and post this voucher and it will post the actual expense. You don't need to do anything with the reversal. It will take care of itself.
Entry #1
10/16/93 Accrued Expense Account 1,000.00
10/16/93 Accounts Payable 1,000.00
Entry #2 - Reversal *
11/01/93 Accounts Payable 1,000.00
11/01/93 Accrued Expense Account 1,000.00
*System generated, this entry is flagged with an "R" as a reversal and has a date assigned to it that falls in the following month.
Entry #3 - When you post the actual voucher
11/05/93 Purchases 1,000.00
11/05/93 Accounts Payable 1,000.00
If you need to re-accrue that voucher the following month, just utilize the <F4> accrue toggle switch again.
