Additional journal entries
The AddOn Factory Deferred Accounts solution allows invoices and credit notes in the sales and purchase ledgers to generate an additional journal entry for transactions that need to be deferred with multiple frequencies e.g. monthly, daily.
Are expenses that have already transacted but which will only be accounted for or recognised at a future date. – e.g. Prepaid Insurance.
Is revenue for goods or services that have been settled before the delivery of the product or conclusion of the service and so the payment will only be added to the revenue account at a future date. – e.g. Bulk materials purchased and paid for in advance.
Fully automated postings based on previous entries and schedules.
Effortlessly keep track of future dated posting and ensure all accounts are accounted for.
Easily schedule deferred amounts and periods ahead of time with related reporting.
This new solution has been designed for fast implementation on-premise and in the cloud with minimal training required.