These accruals are recorded automatically by DFA based on receipts entered against purchase orders by the University departments. Standard Accruals Purchase Order Accruals An accrual would be necessary as of June 30 for $4,000, as two-thirds of the time of service occurred in June and one-third occurred in July. The dates of electric service are from June 10 – July 10. Scenario 2: An electric bill is received on July 15 in the amount of $6,000. The way to accrue this expense is to record the receiving of the goods in Oracle. An accrued expense of $3,000 must be recorded as of June 30 to ensure that the expense is properly accounted for in the current fiscal year. An invoice for $3,000 is received on July 1 and is paid on July 30.
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