Process Deferred Accounting

Process Deferred Accounting

Every time deferred revenue or expense is processed, a log called Process Deferred Accounting is produced.

When deferred revenue or expenses are booked, process deferred accounting records are automatically created. The user can also make a record for manually recording deferred revenue or expenses, which is done through a background job.

Visit the following to get the Process Deferred Accounting list:

Home > Accounting > General Ledger > Process Deferred Accounting

1. Prerequisites

Prior to developing and utilizing a Process Deferred Accounting, it is recommended to first establish and comprehend the following:

1.Deferred Revenue

2.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.

![process deferred accounting](/files/process-deferred-accounting.png

3. Features

3.1 On Submitting

All invoices falling between the service Start Date and End Date will have GL Entries for deferred revenue or expenditure booking created when a Process Deferred Accounting document is submitted.

If a certain deferred revenue or expense account is the only one for which deferred revenue or expenses must be booked, enter that account.

3.2 Enabling automatic deferred accounting

By going to Accounts Settings, you may enable the "Automatically Process Delayed Account Entry" checkbox to enable automatic deferred accounting.

Go to: to view Accounts Settings.

Home > Accounting > Accounting Masters > Accounts Settings