Accrued Revenue
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      2. Revenue Recognition and Tools
      3. Accrued Revenue

      Accrued Revenue - How to Create via an Estimate

      This method is used where you have created an Estimate, and you wish to accrue some or all of the revenue based on that Estimate. If you select  this method you must select the Job No.

      Steps

      1.   Navigate to Accounting > Revenue Tools > Accrued Revenue.

      2.  Click on CREATE A NEW ACCRUED REVENUE to start.

      3.  The ADD ESTIMATE option will pre-selected by default.

      4.  Enter the Job No. or choose from the dropdown list provided.

      Screenshot_37-1

      • OFFICE field will populate automatically based on the selected Job No.
      • Accrual Date will default to the current date but can be modified if necessary.
      • Adjust the ACCOUNTING YEAR and ACCOUNTING MONTH if changes are required.

       

      5.   Click NEXT to view a list of approved estimates for the chosen job number.

      6.   Tick the checkbox next to the desired ESTIMATE VERSION to select it for revenue accrual.

      Screenshot_38

      7.   Click on the Next button to proceed to the next screen, where you will have the opportunity to edit the employee details and finalize your accrued revenue entry.

      8.   Click on the SAVE button or the SAVE & CLOSE to finish.