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Remove Hold

Modules > Advanced revenue & expense deferrals > Deferral schedules > All deferral schedules > [select a deferral schedule] > [select Hold > Remove hold]

Use this page to remove a hold from a deferral schedule.

Example

A deferral schedule has the following setup:

  • 100.00 per month
  • 12 months per fiscal year (January 2017 - December 2017)
  • Is put on hold in February 2017
  • Balance in the short-term deferral account is 1,200.00 = 12 months of 100.00
    Assuming the balance in the long-term deferral account is 3,400.00
    Total unrecognized amount is 4,600.00

When the schedule is put on hold, the following journal entries are created: 

Long-term deferral 4,600.00  
  On hold   4,600.00
  Long-term deferral   1,200.00
Short-term deferral 1,200.00  

In April, the hold is removed. The short-term periods start from the last unrecognized period, so the amount in the short-term deferral account is still 1,200.00. The journal entries are as follows:

On hold 4,600.00  
  Long-term deferral   4,600.00
Long-term deferral 1,200.00  
  Short-term deferral   1,200.00

After the hold is removed, the amount in the long-term deferral account is still 3,400.00. The amounts for February and March have not be recognized nor have they been accounted for in the short-term period.

Processes

Put a deferral schedule on hold: 

  1. From the All Deferral Schedules list or the Schedules form, select the deferral schedule you want, and select Hold > Remove hold.

    2. The Remove Hold page opens.

  2. When this page opens, do the following: 
    1. Select the Journal name.
    2. Specify the Transaction date.
    3. Select OK.

Fields

This page contains the following fields: 

Field Description
Journal name

Select the template for the general journal entry.

Specify the journal name.

Transaction date

Specify the date on which the journal entry is posted.

Buttons

This page contains the following buttons: 

Button Description
OK

Removes the hold from the deferral schedule, and changes the status to Active.

If the balance was transferred when the deferral schedule was placed On hold, a journal voucher is created to move the balance back to the deferral account.

For a short-term deferral schedule, journal entries to reverse the amounts transferred are created from the On hold account to the long-term deferral account. Also, short-term adjustments are created to transfer the amount from the long-term deferral account to the short-term deferral account. These transactions use the same batch, but have different vouchers.

 
Cancel

Cancels all changes and closes the page.