Zero Balancing > By Period

This feature deals with "Inter-Period Accounting (Cross-period Balancing)" situations. Assume that you have received an invoice from your attorney dated in July for services rendered in June and you did not set up any accrual provisions for this cost. You are budget/time-frame conscious and wish to record the accounts payable in July and set up the expenditure in June. STEP FORWARD lets you record the facts:

Debit Legal Expenses in June (Document Date: July, Accounting Period: June)
Credit Accounts Payable in July (Document Date: July, Accounting Period: July)

STEP FORWARD will automatically maintain the zero-balancing integrity of the accounting periods by generating the following entries with the Document Date and Reference of the original entry:

Debit Accrued Expenses - Period Balancing in July
Credit Accrued Expenses - Period Balancing in June

Take Note
If this "Accrued Expenses" account is defined for Open Item analysis, these entries can be self-purging.

Selecting Prototype > Zero Balancing > By Period menu option will display the Accrued Expenses - Current Year  window, with two data areas:



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