The following describes how to automatically allocate a six-month prepaid rent evenly over the accounting periods to which it belongs.
Prerequisites
As allocation embraces more than one accounting period, a voucher type without date control is mandatory, i.e. Date control is set to NO.
- Follow steps 1-3 in Enter a G/L transaction with a specific document number.
- You access G/L transaction entry. Start by entering the base amount you want to allocate and the account combination you want to debit over the periods.
- Per
- The system proposes current period. You can change to another open accounting period.
- Account parts
- Enter the account combination you want to debit.
- Amount
- Enter the base amount you want to allocate.
- Text
- You can enter a text key from Work with entry texts or you can enter free text in this field. Tip: If you want the entered text to be defaulted for the next transaction, you need to set an asterisk (*) as an attribute for the Text field of the user template that you are using.
- You access Automatic transaction allocation. Complete the following fields:
- Account parts 1-8
- Enter a base account combination. In this case, an accrual expense account. The system credits this account each month until the allocation is complete.
- Start period
- The system proposes the same period as the first posting you debit for the allocation. You can change to another open period within the accounting year.
- End period
- The system proposes the last period within the accounting year. You can change to another open period within the accounting year.
- Calculation curve
- Leave this field blank. This field is used when you allocate the base amount according to a curve you have defined in Work with budget curves over the selected periods.
- The panel now displays the calculated amounts, spread evenly over the selected periods. If you want to recalculate the amount over new periods, click Back and change the period. Then, click Calculation for a new calculation. Note: For an allocation with different amounts over the periods, you can manually adjust the amount in the Amount field for each period. Click OK to update the amounts.
- You re-access the entry panel which displays the postings created for the allocation. The system has now created a reversed posting on the first account combination you debit. The base amount balances instead on the accrual account. The system will now, each month, debit the account combination and credit the accrual account according to the allocation. To view the rest of the posting, click Next.
- You re-access the initial panel. Click Exit to access the update panel.
- Enter the printing parameters and tick Close batch. Click OK.
- The final panel displays all the postings from the batch. Click OK to update the postings in the General Ledger. You will receive a message and reports when the update is complete.
Click Allocation for automatic allocation of the transaction.
Click Calculation to calculate the base amount over the selected periods.
Click Update to update the allocation.
Enter the last account combination to balance the allocation. Update the posting. Note: For these types of postings you can only maintain the entry text, and you cannot delete them.
Tip: If you want to delete the entire allocation, you must select the original posting (with the base amount) and click OK to move it to the entry part at the bottom of the panel. Then, delete it by clicking Delete line.
Click Exit to end the entry.