Create an Accrual Journal

Accruals may be entered into the General Ledger from the Details tab of the General Ledger Journals window. An Accrual Control Account must be set up before creating an accrual, see Set up Accrual Journals.

How to Create an Accrual Journal 

1. Navigate to General Ledger > Journals > Details tab.

2. Click the Create Accrual button.

3. The Reports module is opened displaying a list of Accrual reports. Select and run the required report (e.g. Accruals by G/L Code by Invoice Date).

4. Once the report is generated, confirm that it is correct and exit the Reports module by clicking the exit button  .

5. An Accrual Journal is automatically generated and displayed in the New tab of the General Ledger Journals window together with a Balancing Journal with an Effective Date of the first day of the following financial period.

6. Enter a Reference, Name and Description and click Save.

Result: The Accrual Control Account is credited and the Expenses account is debited with costs.