Question

How to account for third party Equipment (Accrual)

  • 31 May 2023
  • 0 replies
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Userlevel 2

Whe you have rental machine that you collect time card for in the system. Upon releasing this time card you get an expense that will update my budget line meaning that I will clear my accrued liability with the supplier Invoice. The reconciliation seems cumbersome due to the number of PM transactions created by the Equipment time cards. Is there a work around to this  or anyone with a good idea on report?.

 

Project Transaction - Time card
 


Time Card.


GL Transaction.
 


Receiving Invoice at Month end reconciliation required.
-  Cheking the project transaction and referencing to time cards. If the balance of the Time cards and bill are not the same adjust via the Time card correct Function. 
 

 


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