Accruals
The
Accrual
sheet lets you add a supporting manual entry row in any of the I
/ O
/ N
tax code sheets. This functionality enables you to report on a separate schedule incurred expenses or earned incomes that have not yet resulted in a cash transfer.To develop the Input accrual adjustment schedule, select a manual entry row in one of the
I
or N
schedules, select the insert icon and select sheet. Select the Input accrual adjustment and select OK.You can develop the Output accrual adjustment schedule in a similar fashion as
Schedule O
.Data Flow
After the accrual schedule is developed, you can manually enter the total, current period, actual accrual and any adjustment.
The Net accrual amount then flows to the
I
/ N
/ O
sheets, in the row that is supported by the accrual sheet.When you roll forward the calculation, the current period adjustment is automatically reversed in the accrual sheet
The reversal of prior period adjustment will then flow to the supported
Schedule I
Related Content
-
Adjustments
Format:
Article,
1 min read