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SBS ARED Deferral G/L Account Setup

Use this page to specify the deferral and recognition accounts to be used with the default deferral templates for deferral schedules. When these General Ledger accounts are used on transactions, the associated templates determine how the amounts are deferred for the transactions.

Specify G/L Default Accounts

Specify the General Ledger deferral default accounts for general journal entries: 

  1. Select New.
  2. Select the Transaction Type
  3. For each line, do the following: 
    1. Select the default accounts to use for deferral and recognition amounts. Also, for other features, such as short-term functionality and discounts.
    2. Select the default templates for straight line or event based deferrals.

Fields

This page contains the following fields: 

Field Description
Transaction Type

Select the transaction type for deferring the amounts: 

  • Sales Invoice: Use this option to defer revenue amounts directly to the General Ledger account that can be added to a sales invoice.
  • Purchase Invoice: Use this option to defer expense amounts directly to the General Ledger account that can be added to a purchase invoice.
  • Journals: Use this option to defer revenue or expense amounts posted directly to a journal.
Deferral Account No. Select the deferral account for general journal entries.
Recognition Account No. Select the account used for recognizing deferral amounts.
Offset Recognition Account Select the account to use for offset recognition amounts.
Initial Recognition Account Select the account to use for the initial recognition.
Short Term Deferred Revenue Account Select the account to use for the short term deferred revenue.
Deferred Discount Account Select the account to use for the deferred discount.
Discount Recognition Account Select the account to use for the discount recognition.
Short Term Deferred Discount Account Select the account to use for the short term deferred discount.
Default Template Select the default template type to use for the transaction type: Straight Line or Event Based.
Default Straight Line Template Select the default template used for straight line calculations.
Default Event Based Template Select the default template used for event-based processing.