Accounts Receivable Accruals
The BC module is used to accrue revenue related to sales and services provided as of June 30 but the revenue is not received until July. The accrual is recorded during the processing of the cash receipt entries made in July. C ash receipts received in July that are eligible for accrual in the prior fiscal year are identified by flagging the BC cash receipt entry posted in NCAS. The flagging process is performed by using a doc id 23 when recording the cash receipt entry and by recording a valid accounts receivable account number on line 3 of the description field. Automated year-end accrual and accrual reversing entries are generated for the flagged account receivable transaction.
NOTE: If the agency is currently using description field 3, agency management decision will be necessary to determine if the automated or manual process will be used for accruing revenues.