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Cancel Unrecognized Amount

Modules > Advanced revenue & expense deferrals > Deferral schedules > All deferral schedules > [select a deferral schedule] > [select Cancel > Unrecognized amounts]

Use this page to cancel unrecognized amounts for a deferral schedule.

Note icon. Note: Any lines that have already been recognized or stubbed are excluded from this process.

Cancel Unrecognized Amounts

Cancel unrecognized amounts on a deferral schedule: 

  1. From the All Deferral Schedules list or the Schedules form, select the deferral schedule you want, and select Cancel > Unrecognized amounts.
  2. On the Cancel Unrecognized Amount page, select whether to Create cancellation entries.
  3. If you choose to create cancellation entries, select the Journal name and the Cancellation account, and specify the Transaction date.
  4. Select OK.

Fields

This page contains the following fields: 

Field Description
Create Cancellation Entries

Indicate whether the journal entries are created for canceling the unrecognized amounts:

  • Yes: Creates journal entries for canceling the unrecognized amounts.
  • No: Does not create journal entries for canceling the recognized amounts.
Journal name

Specify the journal name.

Transaction date

Specify the date on which the journal entry is posted.

Cancellation Account Specify the revenue cancellation account.

Buttons

This page contains the following buttons: 

Button Description
OK

A new journal voucher that transfers the unrecognized amount to the cancellation account.

Cancel

Cancels all changes and closes the page.