How to Handle Accruals

  • The following steps will walk you through handling accruals at the end/beginning of a fiscal year. The process will allow you to expense the amount to the PRIOR fiscal year while affecting your cash balance in the CURRENT fiscal year.


Creating an Accrual in Vendor Payments

  1. Procurement → Vendor Payments → Add Tab → Add Direct Vouchers
  2. Voucher Defaults Tab:


  • Override Values: TRUE
  • Calendar Year: Current Year
  • Calendar Month: Current Calendar Month
  • Fiscal Year: Fiscal Year in which Expense should occur. [Prior Fiscal Year]
  • Fiscal Month: POST YEAR


  1. Create Invoices and Vouchers Tab:


  • Populate Voucher Information Normally
  • Save (Process wheel)


  1. After the voucher has been saved, the audit trail should immediately run after you close the voucher screen. Review the report that appears on the screen. If the report is correct, hit Cancel and set your flags.
  2. Next, assign your check or EFT numbers to the voucher(s). The check/EFT date should be the date you plan on clearing the checks/transfers; in this case it should be some time in the current fiscal year, not the prior fiscal year.
  3. Next, run the check register for check vouchers or EFT register for EFT vouchers. Review the report that appears. If the report is correct, hit Cancel and set your flags. This will update your vouchers to the Bank Reconciliation Module.
  4. After updating, print your checks or create an ACH file for your EFT vouchers.
  5. Next, distribute the vouchers (Remember to input correct the fiscal year as vouchers are being distributed to prior year). Review the report that appears on the screen. If the report is correct, hit Cancel and set your flags. This will distribute the activity to Financial Management.
  6. Next, clear the checks or EFTs. Review the report that appears on the screen. If the report is correct, hit Cancel and set your flags. The checks will clear to the current fiscal year based on the check/EFT date]
  7. Finally, post the activity that was distributed and posted. Review the report that appears on the screen. If the report is correct, hit Cancel and set your flags.