Prepayment Accruals

Pre payments should be entered for any transactions that you have already paid for but want to account for the expenditure in the next accountancy period or next financial year.

You can access the screen from the Transactions menu by choosing Accruals.

To Post a Prepayment

1. From the Transactions menu, choose Accruals to display the Accruals screen. Select the Prepayments tab. 

   

2. If you want to batch the transaction select the Options tab on the far right and switch the dial to Batch transaction. 
3. Enter the Amount you wish to accrue. Remember accruals should be nett amounts only.
4. By default today's Date is displayed. If required you can edit this entry to apply a different date to the prepayment.
5. A Reference of up to 10 characters is required.
6. In the Detail field enter a note about the prepayment.
7. Enter the Analysis for this prepayment.
8. Enter the Budget for this prepayment.
9. Tick the box Do not reverse until Year end if entering this prepayment in any period other than P12 or P13 and you want to stop the prepayment from automatically reversing out in the next period.
10. If using Funding streams and Cost centres, choose from the drop down.
11. When you have finished, click Post.
12. A confirmation pop-up is now displayed, click Cancel or Post as required. If you chose to batch the transaction, a different confirmation pop up is displayed; click Batch to confirm. 

13. Once confirmed, a green message bar confirms the posting was successful.