Use this screen to create purchase order accruals.
A purchase order is a document that represents written authorization for a vendor to ship products to a company at a specified price.
After you initialize the Fiscal Years, Accounting Periods, and Subperiods screens, you can associate a purchase order with a specific accounting timeframe.
For example, if you have 12 purchase orders, each representing authorization for the purchase of a $1,500 computer system to be received each month of the year, you can associate each purchase order with a specific Fiscal Year, Period, and Subperiod, as your company receives this merchandise. Although there is a commitment to buy 12 computer systems, you can associate each purchase order with a specific accounting timeframe.
You can use this screen to determine when to process dollar amounts. Purchase orders, therefore, can accumulate or accrue before a check is actually cut to pay for the related item(s). The dates you select represent the accounting timeframe to which to post the purchase order accrual.
After you enter your selection criteria, you can select the Preview Default Report icon to view a copy of the purchase order accruals on your screen. This allows you to review the data to ensure its accuracy, thus verifying the content based on your selection criteria. You can select the Print Default Report icon to send the data to a printer.
Only one user at a time can execute this process.
You must initialize the Fiscal Years, Accounting Periods, and Subperiods screens before creating purchase order accruals in this application.
Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. Once you save a parameter ID and its related parameters, you can retrieve them using Query.
You can use the retrieved parameters to produce reports and run processes more efficiently and consistently. Many users save a unique set of parameters for each different way they run a report or process. If you select a previously saved parameter ID or parameter description, the associated selection parameters automatically display as selection defaults. You can change any of the associated selection defaults as necessary.
Enter, or use Query to select, a parameter ID of up to 15 alphanumeric characters. You should choose characters for your parameter ID that help identify the type of selections you made in the screen, such as “PERIOD” or “QUARTERLY.”
When you save your record, all the selections made in the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query.
You can use the parameter to produce reports and run processes more efficiently because you can select the parameter ID with its previously defined screen selections. Once the default selections display in the screen, you can override the defaults as necessary.
Enter, or use Query to select, a parameter description of up to 30 alphanumeric characters.
Accrual Period
This non-editable field displays the selection range option.
Enter, or use Lookup to select, an open fiscal year for this purchase order accrual.
The data in the Lookup originates from the Fiscal Years screen.
Your selection determines the fiscal year in which the system posts this purchase order accrual.
Enter, or use Lookup to select, an open period for this purchase order accrual. This period must be open for the fiscal year you selected.
The data in the Lookup originates from the Accounting Periods screen.
Your selection will determine the accounting period in which the system posts this purchase order accrual.
Enter, or use Lookup to select, an open subperiod for this purchase order accrual. This subperiod must be open for the fiscal year and period you selected.
The data in the Lookup originates from the Subperiods screen.
Your selection will determine the subperiod in which the system posts this purchase order accrual.
This non-editable field represents the ending date.
The system determines this date from your selections in the Fiscal Year, Period, and Subperiod fields.
PO Commitment Calculation Date/Time
This non-editable field displays the system date and time of the last purchase commitment calculation for the fiscal year/period/subperiod you select.
This designation represents the date and time the entry posts to the General Ledger.
Enter up to 10 digits to designate the starting journal entry number.
The journal entry number represents the actual entry of this record data in the General Ledger.
If you want the system to assign the journal entry number automatically, you must tab through this field. After you save this record, the system will use the next available journal entry number.
If you choose to manually enter a journal entry number in this field, the system will start automatically numbering each subsequent record based on the last number entered in this field.
Delete existing unposted Accrual
Select this checkbox to remove unposted accrual amounts, based on the Fiscal Year, Period, and Subperiod you selected.
Flag Journal Entry as Billable
Select this check box to create a billable journal entry from this accrual. The system leaves this check box blank by default .
When you post this journal entry in the Post JEs screen, the system copies this journal entry transaction to the Open Billing Detail table. The Open Billing Detail table is a system-accessed table that contains transactions from journal entries that eventually appear on a bill.
In Costpoint Billing, the corresponding flag, Update Open Billing Detail, is copied to the Journal Entry History tables and, for reversible entries, it is copied to the reversing journal entry.
Create an additional JE to reflect changes for a posted Accrual
Select this checkbox to document modifications to a posted purchase order accrual. Any modifications will result in an additional entry in the General Ledger.
* A red asterisk denotes a required field.
Changes to this screen update the JE_HDR (Journal Entry Header) and JE_TRN (Journal Entry Transaction) tables.