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- Mar 23, 2014
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Hi,
I am using JDEdwards accounting software and every month, I have to upload the accruals and JDE allows me to reverse those accruals automatically at the beginning of next month. My problem is how to re-accrue the reversed accruals for the next period? Below is the illustration;
Mar'14
Dr Expenses(I/S) 100
Cr Accrued Expenses(B/S) 100
April( Reversal)
Dr- Accrued Expenses(B/S) 100
Cr- Expenses 100
Invoices received in April
Dr- Expenses 80
Cr- Cash 80
Dr Accrued Exp(B/S) 20
Cr Expenses 20
How do I re-accrue the remaining 20 ?
Dr- Exp(I/S) 40
Cr- Accrue Exp(B/S) - 40
Or ??
Thanks!
I am using JDEdwards accounting software and every month, I have to upload the accruals and JDE allows me to reverse those accruals automatically at the beginning of next month. My problem is how to re-accrue the reversed accruals for the next period? Below is the illustration;
Mar'14
Dr Expenses(I/S) 100
Cr Accrued Expenses(B/S) 100
April( Reversal)
Dr- Accrued Expenses(B/S) 100
Cr- Expenses 100
Invoices received in April
Dr- Expenses 80
Cr- Cash 80
Dr Accrued Exp(B/S) 20
Cr Expenses 20
How do I re-accrue the remaining 20 ?
Dr- Exp(I/S) 40
Cr- Accrue Exp(B/S) - 40
Or ??
Thanks!