Accrual Journals are created when an automatic Reversing Journal for the following day is required. The accompanying Accrual Reversal Journal copies the GL Account entries but with the values in the opposite debit and credit columns.
To create an Accrual Journal, go to Financials > Journals and select the +Add drop-down arrow in the toolbar. Select +Accrual Journal.
The New window opens. Follow the same process as creating a standard journal.
When the journal entry is complete select Post. The confirmation window displays and advises an accompanying reversing accrual will also be created.
Confirm to proceed and return to the Journals main screen.
The two journals are available from the Journals screen. Note - make sure to clear the filter to show all journals and not only those that are Unposted.
The symbols in the Journal # column show the accrual journals.The pairing icon indicates the original accrual journal, and the reverse arrow indicates the corresponding Reverse Accrual Journal. The Batch ID and Batch Description remain the same for each journal.