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Deferral accounting - posting the original amount as correction - Czechia

Enabled for Public preview General availability
Users, automatically - 1 Oct 2024

Business value

The deferrals functionality lets you automatically defer revenues and expenses over a specified schedule and multiple accounting periods. It gives accountants more control over when people post deferrals. This functionality enables deferral accounting so that derecognition of the original amount entered doesn't increase turnover.

Feature details

You can define periods when people can post deferrals for specific users on the G/L Setup page. You can also define these periods for users on the User Setup page by entering dates in the Allow Deferral Posting From and Allow Deferral Posting To fields. With this setup, people can post deferral entries in a future period, even though the Allow Posting From and To fields block other entries.

In this new Czech functionality, accrual accounting is implemented to avoid increasing turnover by derecognizing the originally entered amount.

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Additional resources

Defer revenues and expenses (docs)