FI- Process Deferred Accounting

Executed by

Accounts Executive - Receivable

Processes triggered from

1. Student Admission - New Student Admission "(Variant)", Existing Student "(Variant)"
2. Student Transfer

Navigation

Home > Accounting Module > Process Deferred Accounting

Steps

1. Navigate to the Process Deferred Accounting module.
2. Create a new Process Deferred Accounting entry for Revenue or Expense as per the invoice deferring period.
3. Define the Service Start Date and Service End Date.
4. Save and Submit the entry to trigger creation of monthly draft journal entries.

Important Notes

• Monthly journal entries will be created in 'Draft' status upon the 'Submit' action of this document.
• This is a bulk program and will be used for all sales invoices where 'Enable Deferred Revenue' and 'Enable Deferred Expense' are selected.
• All sales invoice entries with a service period falling between the 'Service Start Date' and 'Service End Date' will be considered for deferring.
• Journal entries will be created on a monthly basis for each qualifying invoice.