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Receipt Accruals - Period-End Process

Use the Receipt Accruals - Period-End process to create period-end accruals for your uninvoiced receipts for Expense distributions. Purchasing creates an accrual journal entry in your general ledger for each uninvoiced receipt you choose using this form. If you use encumbrance or budgetary control, Purchasing reverses your encumbrance entry when creating the corresponding accrual entry.

Attention: When using Cash Basis Accounting, you should use the Purchasing Options window to set the Accrue Expense Items flag to Period End, but you will not normally run the Receipt Accrual - Period-End process. See: Defining Accrual Options.

Purchasing provides you with complete flexibility and control for your period-end accruals. You can use the Uninvoiced Receipts Report to analyze your uninvoiced receipts before you accrue them. You can then run the Receipt Accruals - Period-End process as many times as you want to generate accruals entries for the receipts you choose. Purchasing does not accrue receipts for purchase orders on or before the last date of the Accrual Period.

You create accruals for a specific purchasing period. Purchasing automatically accrues all uninvoiced receipts you entered up to the end of the accrual period you specify. Each time you run the Receipt Accruals - Period-End process, Purchasing creates an unposted journal entries batch in your general ledger for your receipt accruals. If you are using encumbrance or budgetary control, Purchasing creates another journal entries batch in your general ledger corresponding to the encumbrance reversal entries for the uninvoiced receipts you accrued.

Each time you create accrual entries for a specific uninvoiced receipt, Purchasing marks this receipt as accrued and ignores it the next time you run the Receipt Accrual - Period-End process. Purchasing creates accrual entries only up to the quantity the supplier did not invoice for partially invoiced receipts.

Follow the steps listed below:

   To run the Receipt Accruals - Period End process:

See Also

Submitting a Request


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