The following describes how to automatically allocate a six-month prepaid rent over two accounting years.
Prerequisites
As allocation embraces more than one accounting period, a voucher type without date control, Date control is set to NO, is mandatory. When you allocate over year end, you are obliged to use a document type defined to use number series, Handling code is set to 1. The number series must be continuous, Series type is set to 2 and without duplicate control, Duplicate control is set to NO.
- Follow steps 1-2 in Allocate an amount over the selected periods.
- You access Automatic transaction allocation. Complete the following fields:
- Account parts 1-8
- Enter a base account combination, in this case an accrual expense account. The system credits this account each month until the allocation is complete.
- Start period
- The system proposes the same period as the first posting you debit for the allocation. You can change to another open accounting year.
- End period
- The system proposes the last period within the accounting year. You can change to another open accounting year.
- Calculation curve
- Leave the field blank. This field is used when you allocate the base amount according to a curve you have defined in Work with budget curves over the selected periods.
- The panel now displays the calculated amounts, spread evenly over the selected periods. If you want to recalculate the amount over new periods, click Back and change the period. Then, click Calculation for a new calculation. Note: For an allocation with different amounts over the periods, you can manually adjust the amount in field Amount for each period. Click OK to update the amounts.
- You re-access the entry panel which displays the postings created for the allocation. The system has now created a reversed posting on the first account combination you debit. The base amount balances instead on the accrual account. The system will now, each period, debit the account combination and credit the accrual account according to the allocation. To view the rest of the posting, click Next.
- Continue with steps 6-8 in Allocate an amount over the selected periods to update the General Ledger and close the batch.
Click Calculation to calculate the base amount over the selected periods.
Click Update to update the allocation.
Enter the last account combination to balance the allocation. Update the posting. Note: For these types of postings you can only maintain the entry text for the postings that belong to the actual accounting year and you cannot delete them.
Tip: If you want to delete the entire allocation, you must select the original posting (with the base amount) and click OK to move it to the entry part at the bottom of the panel. Then, delete it by clicking Delete line.
Click Exit to end the entry.