Settle Prospective Expense Adjustments

In the Settle Fund Expense panel, you can settle a prospective expense adjustment or a prospective income adjustment for an entity. You process settlements for prospective expense or income adjustments just as you do for any expense payment. This applies even to prospective income adjustments. When you use the expense processes, the system updates the income accounts. 

To settle a prospective expense or income adjustment:

1. In Accounting Center, in the left navigation pane, click Transactions > Cash> Settlements > Settle Fund Expense.
   You see the Settle Fund Expense panel.

2. Specify the entity, accounting basis, and share class for the expense or income you want to settle. 

3. In the Fee Type field, select the Rec/Pay event you created that has a Rec Pay Category of Prospective Expense or Prospective Income, as appropriate.

4. Complete the remaining fields in the panel.

5. Click Submit.