CREATE PURCHASE ORDER ACCRUALS

Use this screen to create purchase order accrual journal entries so you can post purchase order amounts to the general ledger before the actual payable is posted by voucher distribution.

This process generates a self-reversing journal entry from the summary purchase order commitments calculated for the period-end date that coincides with the selected accrual period. This enables you to show your purchased and received amounts on your financial statements without waiting for the entire payables process to complete. This also makes it possible to progress-bill customers for the purchased items.

On the Configure Purchase Order Accruals screen, you specify which commitment amounts to accrue and select the period for which these amounts are accumulated. Costpoint posts the accrual journal entry to the proper project/account/organization and reverses it when the next Reversal Adjusting posting for the next subperiod or the first subperiod of the next accounting period occurs.

Before you create purchase order accruals for the first time:

Run the Create Purchase Order Accruals process whenever you need to create purchase order accruals. You can run the accrual process multiple times in a given period or subperiod. Multiple accrual journal entry transactions across periods or subperiods can be open at the same time.

Only one user at a time can run this process.

Location

Identification

Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. After you have saved a parameter ID and its related parameters, you can retrieve them using Query.

You can use the retrieved parameters to produce reports and run processes more efficiently and with greater consistency. The saved parameters are also useful and necessary when you want to run the process as part of a batch job. Many users save a unique set of parameters for each different way they run a report or process. When you select a previously saved parameter ID or parameter description, the associated saved screen selection parameters automatically display as selection defaults. The page setup and print options are also included in the saved parameter ID if there are any. You can change any of the associated selection defaults as necessary.

Parameter ID

Enter, or click to select, a parameter ID of up to 15 alphanumeric characters. Choose characters for your parameter ID that help identify the type of selections you made in the screen, such as PERIOD or QUARTERLY.

When you save your record, all the selections made in the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query.

You can use the parameter to run the process more efficiently because you can select the parameter ID with its previously defined screen selections. After the default selections display in the screen, you can override the defaults.

Description

Enter, or click to select, a parameter description of up to 30 alphanumeric characters.

Selection Ranges

Accrual Period

Start Fiscal Year

Enter, or click to select, the fiscal year for which you want to create purchase order accruals. The status of the fiscal year must be Open.

Start Period

Enter, or click to select, the accounting period for which you want to create purchase order accruals. The status of the period must be Open.

Start Subperiod

Enter, or click to select, the subperiod for which you want to create purchase order accruals. The status of the subperiod must be Open.

Ending Date

This field displays the ending date of the subperiod.

PO Commitment Calculation Date/Time

This field displays the date and time of the last purchase commitment calculation for the selected fiscal year, period, and subperiod. This is the date and time at which the entry posts to the general ledger.

Generate

Journal Entry Number

If you want to assign the journal entry number yourself, enter a number. If you assign the number, Costpoint uses that as the last used journal entry number when it assigns numbers to subsequent journal entries.

Leave this field blank if you want Costpoint to assign the next available journal entry number when you create the accrual.

Delete Existing Unposted Accrual

Select this check box to remove unposted accrual amounts for the subperiod specified by your entries in Fiscal Year, Period, and Subperiod.

Flag Journal Entry as Billable

Select this check box if you want the journal entry created for this accrual to be a billable journal entry.

When you post the journal entry on the Post Journal Entries screen, Costpoint copies the journal entry transaction to the Open Billing Detail table. The Open Billing Detail table contains journal entry transactions that eventually appear on a bill.

In Billing, the corresponding flag, Update Open Billing Detail, is copied to the Journal Entry History tables and, for reversible entries, it is copied to the reversing journal entry.

Create an additional JE to reflect changes for a posted Accrual

Select this check box to document modifications to a posted purchase order accrual. Any modifications result in an additional entry in the general ledger.

Create Purchase Order Accruals

To create purchase order accrual journal entries based on the processing options you selected, click Create Purchase Order Accruals or Print/Create Purchase Order Accruals on the Action menu.