Post Prepayments & Accruals

This option is used to process transactions for all of the Prepayment and Accruals templates you have set-up in the software.

To access this option select File > Period End > Post Prepayments & Accruals from the menu.

For more information on prepayments and accruals and how to set-up templates see the Prepayments & Accruals page.

Enter the date that you want the transactions to be recorded on and click OK to confirm or click Cancel to abandon.

The next instalment posting for ALL prepayment and accrual templates will be processed.

Reverse Transactions

All prepayment and accrual templates will involve posting reverse transactions which are used to nullify the effect of the original transaction which you recorded. For example for a Prepayment for office rent you will record the main transaction on the date of the bill, using the option in the software that you would normally use to record that type of transaction, and specify the Rent account that the amount will be posted to. You then set-up your Prepayment template and post it. The first posting will reverse the affect of the full amount of the original transaction on the Rent account. Reverse transactions are only posted once for each template. For prepayments they are recorded with the first posting for the template and for accruals they are posted with the very last posting for the template.

Instalment Transactions

Each posting for a template records a single instalment amount to your accounts for the specified date. This will be the total value of the template divided by the number of months you have specified that it is to be spread over.