FBS1_Enter Accrual/Deferral Entry



The Pennsylvania State UniversitySIMBA Hands-On Guide Alternative Format TITLE \* MERGEFORMAT FBS1_Enter Accrual/Deferral Entry? 2020 The Pennsylvania State University? Copyright 2020 Labyrinth Solutions, Inc. All rights reserved. Labyrinth Solutions, Inc., the LSI logo, and CampusOneTM are trademarks of Labyrinth Consulting, Inc. SAP, R/3, SAP NetWeaver, and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and other countries. Business Objects and the Business Objects logo, BusinessObjects, Crystal Reports, Crystal Decisions, Web Intelligence, Xcelsius, and other Business Objects products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of Business Objects S.A. in the United States and in other countries. Business Objects is an SAP company.FBS1_Enter Accrual/Deferral Entry?Overview?Transaction Description:This tile allows users to record entries to accrue revenue or defer expense as appropriate to properly match activity to correct accounting periods.?Penn State?Purpose:This transaction allows users to record accruals and deferrals. The type, posting period, and information about related documents must be entered as appropriate. This is a specialized accounting transaction. Access is limited to appropriate positions in business area and central finance offices.Process Steps?This transaction is the method to establish an accrual or deferral transaction with a corresponding reversing entry.The current date is used for the Document Date.1.?01/21/2020 is typed into the Document Date field.Accrual/deferral entry is limited to central offices and Financial Officers. Using the ZC– central JE, rather than the SA – G/L document, is appropriate.2.?A value of zc is typed into the Type field.Note: The ZC type will not route through department workflow.The Document Header Text field is limited to 25 characters – a meaningful explanation for the transaction?should be supplied.3.?Accrue gift revenue is typed into the Doc.Header Text field.The 05 – accrual/deferral entry – is an appropriate Reversal Reason?for this example. Other reasons are available via the Possible Values button. 4.?05 is typed into the Reversal Reason field.Our example will use the first day of the subsequent month.5.?02/01/2020 is typed into the Reversal Date field.For?a debit, a value of 40 is entered.6.?40 is typed into the PstKy field.Any valid GL account may be entered. This example will use Accounts Receivable.7.?13010200 is typed into the Account field.Enter is pressed.8.?1000 is typed into the Amount field for the Debit entry.Because this GL account is a balance sheet account, the Fund is required. The Fund will be derived from the Cost Center, I/O, or WBS when the GL account is a revenue or expense.?The unrestricted gift fund is used for this example. 9.?1110000002 is typed into the Fund field.A valid grant is entered. “Notrelevant” is used in this example.10.?A value of notrelevant is typed into the Grant field.11.?The More button is clicked.12.?6390 is typed into the Business Area field.13.?The Continue button is clicked.A best practice is to use the Text field to enter meaningful information about the transaction.14.?Accrue gift income with system reversal is typed into the Text field.40=debit; 50=credit. Ours is a credit.15.?50 is typed into the PstKy field.Any valid GL account may be entered. Our example uses gift revenue.16.?45000010 is typed into the Account field.Enter is pressed.17.?1000 is typed into the Amount field.18.?The More button is clicked.Because this example is using a gift internal order, the coding block window is needed to access the order field.19.?400001000801 is typed into the Order field.20.?The Continue button is clicked.21.?Accrue gift income with system reversal is typed into the Text field.22.?The Post button is clicked.System Status Bar Confirmation:The Accrual-Deferrral has been entered.We have just shown an example using one debit and one credit entry. Additional lines may be completed as needed. Total debits must equal total credits to post.Disclaimer?Alternative Format Statement This publication is available in alternative media upon request.??Statement of Non-Discrimination The University is committed to equal access to programs, facilities, admission, and employment for all persons. It is the policy of the University to maintain an environment free of harassment and free of discrimination against any person because of age, race, color, ancestry, national origin, religion, creed, service in uniformed services (as defined in state and federal law), veteran status, sex, sexual orientation, marital or family status, pregnancy, pregnancy-related conditions, physical or mental disability, gender, perceived gender, gender identity, genetic information, or political ideas. Discriminatory conduct and harassment, as well as sexual misconduct and relationship violence, violates the dignity of individuals, impedes the realization of the University’s educational mission, and will not be tolerated. Direct all inquiries regarding the nondiscrimination policy to Affirmative Action Office, The Pennsylvania State University, 328 Boucke Building, University Park, PA 16802-5901; Email: aao@psu.edu; Tel: 814-863-0471. ................
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