Accounting entires for a manual event

Question

Hi
How can i determine the accounting entries at various stages.. i.e Revenue generation , invoice creation , interface to AR for a manual event.
Thanks

Answer 1

Hi
A manual event could have either revenue amount, bill amount or both.
If the revenue amount field is populated, and you run the PRC: Generate Draft Revenue for that project, the event will be included in the draft revenue.
The draft revenue accounting is crediting a revenue account for each line, each event, included in the document. You should set up the Auto Accounting rules and assign them to the Auto Accounting function - Event Revenue. The rules may be based on project, project type, event type, project organization, etc. The system is generating the revenue accounting by Auto Accounting when the draft revenue is generated (running the GDR process).
When you run the process - PRC: Interface Draft Revenue to GL, the system will call the AA to create the offset accounts. This could be UBR or UER or both, depending on the prior ballance of the revenue and invoices of that project. You need to assign the AA rules for UBR & UER accounts using the function - Invoice and Revenue Accounts.
If the invoice amount is populated on the event, and you run the process PRC: Generate draft Invoice for that project, the event will become a line in the draft invoice.
The draft invoice account is debiting the Receivable account, and crediting the UBR, UER accounts, depending on the prior ballance of the revenue and invoices of that project. Receivable account definition is also done using the Auto Accounting setup menu. You need to assign the AA rules for the AR account using the function - Invoice and Revenue Accounts.
Note that the GDI process only generate the Debit Receivable accounting of the draft invoice. When you run the process PRC: Interface Draft Invoices to AR, the process is calling the AA engine to generate the credit accounts (UBR / UER).
Dina