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Reply from rajuindukuri on Apr 2 at 2:25 AM Hi Jyothi,
As you paid $4500 for three months, Per month cost is $4500/3= 1500, In
Dec We move 2 months Jan&Feb amount $3000 to prepaid account, In Jan we
release the $1500 and Feb we release $1500, Finally prepaid will be Zero
end of the Feb Month.
Only we should treat 2 months as prepaid..
Thanks,
siva
| | | ---------------Original Message---------------
From: JyotiKm
Sent: Wednesday, April 01, 2015 6:06 PM
Subject: Accrual Deferral Posting
If I paid occupancy cost of $4500 for the 3 months Dec, Jan and Feb on 1 Dec, 2014. Then at the time of closing the books on 31 Dec 2014, should I treat the amount as an Accrual or a Deferral?
Also, in the Study books for SAP FI course, in one exercise the amount of $4500 is taken to "Accrual Income" account. I want to know whether in real accounting scenarios we would take the amount as "Accrual Income" or is it just in the study books. Even SAP PRESS books have taken Accrual Income (98000). Or should we treat the amount $4500 as "Prepaid Expenses "?
Please provide a detailed explanation. I need some clarification here. |
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