Process Deferred Accounting is a log which is created on every processing of deferred revenue or expense.

To access the Process Deferred Accounting list, go to:

Home > Accounting > General Ledger > Process Deferred Accounting

1. Prerequisites

Before creating and using a Process Deferred Accounting, it is advised to create and understand the following first:

• Deferred Revenue
• Deferred Expense

2. How to create a Process Deferred Accounting

1. Go to Process Deferred Accounting list, click on New.
2. Enter the Company.
3. Select the type of deferred accounting process. Select ‘Income’ for booking deferred revenue or select ‘Expense’ for booking deferred expense
4. Expand the posting date.
5. Enter service Start Date and End Date.
6. Save and Submit.

3. Features

3.1 On Submitting

Upon submission of a Process Deferred Accounting document, GL Entries for booking deferred revenue or expense will be generated for all invoices falling within the service Start Date and End Date.

Specify the account if booking Deferred Revenue or Expense is required only for a specific deferred income or expense account.

3.2 Enabling automatic deferred accounting

To activate automatic deferred accounting, check the ‘Automatically Process Deferred Account Entry’ option in the Accounts Settings.

To access Accounts Settings, go to:

Home > Accounting > Accounting Masters > Accounts Settings