Deferred Expense Recognition


(Kristine Fierce) #1

We need to setup deferred expenses and documentation refers to a conversion program that will auto add the Amortization GL Control Type. I can’t seem to find anywhere what conversion number to run.

There is no comprehensive documentation for either deferred expense or deferred revenue setup that I have come across yet. So I will piece one together unless one of you have one to share.

TIA.

Kristine Fierce
Business Systems Analyst
Ag Leader Technology


(Mark Wonsil) #2

Hey Kristine,

I don’t know of any setup documentation either but we did stumble across something that works, even in 10.2. If you enter a deferred invoice, create its amortization table then post it, you can create a credit memo for the amount so there is no net effect. However, you CAN still run your Revenue Recognition process against it and it will move values from your deferred account to your revenue account. This might help you with your starting balances.

Your mileage,…test, test, test, etc.

Mark W.


(Kristine Fierce) #3

@Mark_Wonsil Thank you. I’m fumbling my way around to give guidance to accounting how to set this up. We’ll tackle expenses first in hopes they may be a little bit less complex than the revenue side will be. I am piecing together documentation so we can get something started in our TEST environment to make sure we cover everything. Fun stuff and always learning something new. I’ll keep in mind what you found when we get to the revenue side.


(Kristine Fierce) #4

I realized after this post that I don’t have to run any conversion program. Onto setup now.