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Monthly Accruals Generation

Tue, 2017-02-14 06:59 — ppatnaik

Overview

This entity is to allow the execution of the Monthly Accruals Generation in batch, according to the schedule (frequency, date, time) specified under the Scheduler tool. On a monthly basis, the authorized user generates the organization’s accruals which records the information in the expenditures window for all specified assignment records. An entry is created for the selected fiscal period as well as the corresponding reversal entry in the subsequent fiscal period. These transactions will be captured in two separate files, one for each fiscal period and will appear under Human Capital ► Payroll and Financial ► Monthly Accruals Generation ► Monthly Accruals Export window. The authorized users generate the transactions at the end of each month. These entries are subsequently transferred to the general ledger for posting in their respective fiscal period.
 
The accruals functionality was configured using the organization’s business rules in order to accrue on the appropriate information that is required in the departmental monthly trial balance for reporting to the government authorities.
 

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Human Capital ► Payroll and Financial  ► Monthly Accruals Generation ► Monthly Accruals Generation

Monthly Accruals Generation screen Fields

Fields

Description

Fiscal Period

The fiscal period for which the accruals will be generated.

Fiscal Period FilterFilters the transactions under the Suspended Tab, by Fiscal Period. If a Fiscal Period is selected, only the transactions in suspense for that specific fiscal period will be displayed under the Suspended tab.

Error

Filters the transactions under the Suspended Tab, by Error. If an Error is selected, only the transactions in suspense with this error will be displayed under the Suspended tab.

Action

Filters the transactions under the Suspended Tab, by Action. If an Action is selected, only the transactions in suspense with this action will be displayed under the Suspended tab.
Suspended TabDisplays the transactions in suspense that correspond to the filter. More than one filter can be used simultaneously to filter the Suspended Tab (Accrual Generation Fiscal Period, Error, and Action).

Note 1: If the fiscal period is closed it will not be possible to generate accruals.

Note 2: If the fiscal period is closed with restrictions, the wording Restricted (closed with exceptions) will appear next to the selected fiscal Period. Only user profiles with the required privileges to generate accruals for restricted fiscal periods will be able to generate the accruals.

Note: The user can only perform the Monthly Accruals Generation once per month; otherwise, the system will display an unexpected error, as following.

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