Accrual Handling

Sumit_Gupta

Hi,

I am using AX 2009.

I have the following to be configured at my customer's location. Can anyone suggest how it can be done :

1) My client will have a Budget for say year 2009.(expense Account - x amount)
2) They record a PO.
3) When the Invoice comes, they book the Invoice -
Expense A/C Dr.
Vendor A/C cr.
4) They make a payment to the Vendor
Vendor A/C Dr.
Bank A/C Cr.

5) Here if it is the year end, they need to identify all the Invoice that would appear in the next year for the PO raised in the current year.
6) They have to then in the year end pass the following entry
Expense A/c Dr.
Accrual A/C Cr
7) Say the Invoice appears in Jan 2010, then they should be able to invoice such that
Accrual A/C Dr.
Vendor A/C Cr.

8) They make the payment such that
Vendor A/C Dr.
Bank gets Cr.

Whether in Axapta this can be handled. has anyone come accross such a scenario.

Also the current Year Budget for the Expense A/c should not get affected.

Your immediate response would be highly appreciated.

Thanks and Regards,
Ratna.

AdamRoue

So run a purchase order line report on all with the status received to ascertain a value and post a reversing journal at year end - I am presuming they are not posting GRNI which would mean the liability was in the accounts anyway.

dyne

Hi All,

I am also facing the similar issue and pls let me know if we have any solution.

Basically Client need to have following entries:
At time of GRN:
Exp Dr
TO Accrual Exp Cr

At time of Invoicing:

Accrual Exp Dr.
TO AP CR.

I am trying to suggest the option of using Post Physical Purchase. With this option system will give an Accrual entry during GRN which will get reversed during Invoicing and an actual expense entry will get created.

At time of GRN:
Accrual Exp Dr
To Accrual AP CR

At time of Invoicing

Accrual AP DR
TO Accrual Exp Cr

and
Exp Dr
To AP Cr.

Now how does Year end closing will happen for all PO which are at the stage of GRN?

Thanks
Dyne