Weekly Review: Defer Accounts Payable Transactions
Posted in Dynamics GP by DynamicAccounting.net 370 days ago (http://feedproxy.google.com)Previously I worked for a company that purchased content. We would buy video,
like TV shows, and have the right to use them for a period of time. We would
often have to pay up front and then need to spread the expense over say, a year.
Well, not only is this easy to do in Dynamics GP, it can be done at the point of
the AP invoice. This is great for things like insurance too.
In this example, we’ll use the Profit and Loss option in Deferral setup. This
setting let’s the user enter ultimate expense account and then defer the
transaction.
To make this happen in AP:
Enter an AP transaction
Click the distribution button
Select the Expense line to defer
Select Additional | Deferral from the menu at the top
Set the End of Period date, Method and Deferral account
Click Ok
Dynamics GP will adjust the transaction to move the expense to the deferral
account and then it will create and post transactions to recognize the expense
in the future. It doesn’t get much easier than that.
Originally Posted by Mark Polino
at 9/13/2010
09:00:00 AM
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