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In this blog I’ll show you setup and use of Ledger Accruals in Microsoft Dynamics AX 2012.

Accrual basis of accounting means that expenses and revenues are recognized in the period in which they occur, in Microsoft Dynamics AX we can use Ledger Accruals to comply with accrual basis of accounting.

For the setup of Ledger Accruals, you have to setup Accrual Schemes

Go to>General Ledger>Setup>Posting>Accrual SchemesLA1

This form will open,

Form Name: Accrual schemes

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On this form click New

Enter Accrual Identification and Description

In the General Tab under Ledger Posting select these,

Debit Account- Enter Debit Accrual Account

Credit Account- Enter Credit Accrual Account

Number Sequence Code- Select the Number sequence code if you’re no using base voucher number

Voucher- Select how to use the Voucher numbers for the accrual transactions

Description- Enter description for Accrual transactions

Posting Date- Select when Accrual transactions should be posted

Under Duration select,

Calendar Type, Period frequency and length

Under Posting select,

Period Key, Posting Frequency and Value Posting

After setting up Accrual Schemes, Go to>General Ledger>Journals>General Journal

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Journal form will open,

Form Name: General journal

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Click New, select a Journal Name and click Lines

Journal Voucher form will open

Form Name: Journal voucher

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Enter a Line, I have taken Rent Revenue as credit and petty cash account as debit

Now Click on Functions button, click on Ledger Accruals

Form Name: Journal voucher

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This form will open,

Form Name: Ledger accruals

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Here select Accrual Scheme

Form Name: Ledger accruals

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Select the Start Date,

Click on the Transactions button to view the transactions which will be generated based on the Period setup on Accrual Scheme and start date

See Below transactions are generated on from start date specified and on start of every month till 12 months and voucher number is same,

Form Name: Ledger accrual transactions

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Now Click Ok

Now Post the Journal

Form Name: Journal voucher

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Click Inquiries and the Click Voucher

Form Name: Journal voucher

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(The Credit account specified on the accrual schemes is credited and will be debited based on posting setup done on accrual schemes form)

On the Voucher form you can also view transactions generated by clicking on Transaction Origin button

Form Name: Voucher transactions

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