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Accruals Posted - Schedule

To post a monthly installment of the schedule, use the Post Accruals action on the schedule lines. Select the line you want to post and then run the action.

After posting the selected line on the schedule, the Accruals Posted field for that installment will be automatically marked. Additionally, the system will automatically transfer the first long-term installment to short-term liability, so that at any time the schedule shows 12 short-term installments in accordance with accounting rules.

Example

If you have posted the first installment on the schedule, the system will automatically reclassify the 13th installment (which was previously long-term) as short-term.

Payment schedule after posting the first installment, showing an installment transferred from long-term to short-term liability with 12 short-term installments

Posting Order​

The system does not allow skipping the posting of installments on the schedule. Installments must be posted in the order they are defined; otherwise, an error will be displayed.

Error message displayed when posting installments out of order

General Ledger Entries​

In the General Ledger entries, you can see:

  1. That one installment has been posted, including the principal amount, lease cost, and interest cost.
  2. That the liability has been transferred from a long-term installment to a short-term installment.
  3. That exchange rate differences are included in the posting of the installment.

General Ledger entries showing the posted installment with principal, lease cost, and interest, and the long-term to short-term liability transfer

General Ledger entries showing the exchange rate differences included in the installment posting