In the Create Fixed Expense panel, you can define the accrual parameters for one or more fixed expenses. One or more expense accounts must be added to the Chart of Accounts as a receivable or payable event to set up and accrue expenses. You can select a fixed amount to be posted each day, period, or up to a certain end date. Or you can choose a specific amount to be spread out and accrued over a defined period.
To create a fixed expense: 1. In
In Accounting Center, in the left navigation pane, click Setup > Expense > Fixed Expense > Create Fixed Expense.
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You see the Create Fixed Expense panel.
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Complete the options on the Create Fixed Expense panel.
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You can set up expenses that are fixed or spread over a period.
Click Submit.
You are ready to process the expense accruals by running the accrual process. For more information, see Run Expense Accruals. After processing expense accruals for the fund, you can adjust expense postings. For more information, see Adjust Fixed Expense Postings.
For example, the following expense would accrue accrues a daily fixed expense of $250.00 every calendar day between February 1 and March 1. That is, $7,000.00 for the month.
The
The following expense would spread spreads $7,000.00 over the period between February 1 and March 1. That is, $250.00 per day.
4. Click Submit.
You are ready to process the expense accruals by running the accrual process. See the Run Expense Accruals section for more information. After processing expense accruals for the fund, you can
adjust variable expense postings. See the Adjust Expense Postings section for more information. 