Prepayment accruals

The prepayments screen allows you to enter details of any transaction that has been pre-paid prior to receiving the goods or services. By entering the details at this stage RM Finance correctly accrues the amount at the time the user performs the Year End operation.

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, then select the Prepayments tab.
   
   

2. Enter the Amount you wish to accrue.

3. By default today's Date is displayed. If required you can edit this entry to apply a different date to the prepayment.

4. By default the prepayment will be posted in the current Period. If you want to batch this transaction, click Options and then choose the Batch transaction radio button. This adds a Batch Reference field. 
   Enter a Batch Reference for this transaction if required.

5. A Reference of up to 10 characters for this transaction is required, e.g. a cheque or BACS number.

6. In the Detail field, enter a note about this prepayment.

7. Enter the Analysis for this prepayment, by typing in the code.

   • You can enter the first few characters and use to select the required analysis from the search results.

8. Set the Budget Account for this prepayment, by typing in the budget code

   • You can enter a partial code and use to select the required account from the search results.

9. To choose a Funding Stream for this prepayment if applicable, click and choose from the drop-down list.

10. To choose a Cost Centre for this prepayment if applicable, click and choose from the drop-down list.

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 (see step 4) a different confirmation pop-up is displayed; click Batch to confirm.

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