Accounts Payable Accruals

The Accounts Payable Module is used to accrue expenditures related to services provided or goods received as of June 30 but invoiced and paid in July. Invoices paid in July that are eligible for accrual in the prior fiscal year are identified by flagging Accounts Payable control groups or individual invoice lines with a mini-chart of accounts accrual indicator. Automated year-end accrual and accrual reversal entries are generated for flagged Accounts Payable transactions. 

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