Before accruing
Review the payee, account, amount, and period closely so you do not create accrual entries you already know need correction.
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Bookkeeping / Accrued Expenses
Accrue and Reverse a Predicted Expense
Use the current Accrued Expenses identification workflow to predict expenses, accrue them, and reverse them when needed.
Workflow
Setup workflow
Step 1
Open Accrued Expenses > Identification
Go to the Identification tab so you can work with predicted and active accrued-expense candidates for the selected month.
Step 2
Choose the month and run Predict
Use the month picker and the Predict action to populate the current month with predicted accrual candidates.
Step 3
Select the expenses to accrue
Review the predicted rows, select the ones that should accrue, and use the Accrue workflow to create the accrual entries.
Step 4
Reverse or update the accrual when needed
If the prediction or timing changes later, use the current accrued-expense action flow to reverse or correct the accrued expense.
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