How to enter an Income Accrual
- Annmarie |
- 15 steps |
- 28 seconds
An Income accrual is an amount that you know is coming but has not yet arrived. For example you may be expecting a Gift Aid Claim from HMRC the following January, but your accounts close in December. This transaction will show the expected income, and then reverse it at year end.
1
Navigate to [https://www.myfundaccounting.online](https://www.myfundaccounting.online/dashboard)
2
Click "Transactions"
3
Click "Transaction assistants"
4
Click "Prepayments and accruals"
5
Click "Income 'accrual'"
6
On Step 1 select the income account
7
Click "Next Step"
8
[[On Step 2 select the debtor account to be used to record the accrual against]]
9
Click "Next Step"
10
On Step 3 enter the amount you expect to receive
11
Click "Next Step"
12
On Step 4 select the fund the accrual should affect
13
Click "Next Step"
14
Confirm the selections that have been made
15
Click "Save & Post"
