Expenses incurred over multiple accounting periods are not necessarily recognized in the accounting period in which the purchase document is posted and payment is made.

To distribute expenses on the involved accounting periods, you can set up a deferral template for the item, resource, or G/L account that the expense will be posted for. When you post the related purchase document, the expense is deferred to the involved accounting periods, according to a deferral schedule that is governed by settings in the deferral template and the posting date.

This topic contains the following procedures:

To set up a G/L account for deferred expenses

  1. In the Search box, enter Chart of Accounts, and then choose the related link.

  2. On the Home tab, in the New group, choose New.

  3. Create a new G/L account of type Balance Sheet that deferred expenses are posted to. Name the account, for example, Unpaid Expenses. For more information, see Hvernig á ađ setja upp Fjárhagsreikningar í bókhaldslykilsglugganum.

To set up a deferral template

  1. In the Search box, enter Deferral Templates, and then choose the related link.

  2. On the Home tab, in the New group, choose New.

  3. Fill the fields as described in the following table.

    Reitur Lýsing

    Deferral Code

    Identify the deferral template.

    Description

    Describe the deferral template.

    Deferral Account

    Specify the G/L account that the deferred expenses are posted to.

    Deferral %

    Specify how much of the total amount will be deferred.

    Calc. Method

    Specify how the Amount field for each period in the Deferral Schedule window is calculated. You can choose between the following options:

    • Straight-Line: The periodic deferral amounts are calculated according to the number of periods, distributed according to period length.
    • Equal Per Period: The periodic deferral amounts are calculated according to the number of periods, distributed evenly on periods.
    • Days Per Period: The periodic deferral amounts are calculated according to the number of days in the period.
    • User-Defined: The periodic deferral amounts are not calculated. You must manually fill the Amount field for each period in the Deferral Schedule window. For more information, see the “To change a deferral schedule from a purchase invoice” section.

    Start Date

    Specify when to start calculating deferral amounts. You can choose between the following options:

    • Posting Date: The start date used when calculating deferral amounts is the posting date of the invoice.
    • Beginning of Period: The start date used when calculating deferral amounts is the first day of the accounting period in which the posting date falls.
    • End of Period: The start date used when calculating deferral amounts is the last day of the accounting period in which the posting date falls.
    • Beginning of Next Period: The start date used when calculating deferral amounts is the first day of the accounting period that follows the accounting period in which the posting date falls.

    No. of Periods

    Specify how many accounting periods the total amounts will be deferred to.

    Period Desc.

    Specify a description that will be shown on entries for the deferral posting.

    You can enter the following placeholder codes for typical values, which will be inserted automatically when the period description is displayed.

    • %1 = The day number of the period posting date
    • %2 = The week number of the period posting date
    • %3 = The month number of the period posting date
    • %4 = The month name of the period posting date
    • %5 = The accounting period name of the period posting date
    • %6 = The fiscal year of the period posting date

    Example: The posting date is 02/06/2016. If you enter “Expenses deferral for %4 %6”, then the description displayed will be Expenses deferral for February 2016.

To assign a deferral template to an item

  1. In the Search box, enter Deferral Templates, and then choose the related link.

  2. Open the card for the item for which expenses must be deferred to the accounting periods when the item was purchased.

  3. On the Invoicing FastTab, in the Default Deferral Template field, select the deferral template.

To change a deferral schedule from a purchase invoice

  1. In the Search box, enter Purchase Invoices, and then choose the related link.

  2. Create a purchase invoice for a purchased item that has a deferral template assigned. For more information, see Hvernig á ađ stofna Sölureikninga.

    Notice that as soon as you enter the item (or resource or G/L account) on the invoice line, Deferral Code field is filled with the code of the assigned deferral template.

  3. On the Lines FastTab, choose Line, and then choose Deferral Schedule.

  4. In the Deferral Schedule window, change settings on the header or values on the lines, for example to defer the amount to an additional accounting period.

  5. On the Home tab, in the Process group, choose Calculate Schedule.

  6. Choose the OK button. The deferral schedule is updated for the purchase invoice. The related deferral template is unchanged.

To preview how deferred expenses will be posted to the general ledger

  1. In the Innkaupareikningur window, on the Actions tab, in the Posting group, choose Preview Posting.

  2. In the Posting Preview window, select G/L Entry, and then choose Show Related Entries.

    G/L entries to be posted to the specified deferral account, for example, Unpaid Expenses, are denoted by the description that you entered in the Period Desc. field in the deferral template, for example, Expenses deferral for February 2016.

To review posted deferrals in the Purchasing Deferral Summary report

  1. In the Search box, enter Purchasing Deferral Summary, and then choose the related link.

  2. In the Purchasing Deferral Summary window, in the Balance as of field, enter the date up to which you want to see deferred expenses.

  3. Choose the Preview button.

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