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186 votes
Hi everyone, thanks for sharing your feedback on prepayment and accrual schedules. We appreciate you explaining how important this is for your month-end processes and workflow efficiency.
I’d like you to know your idea's been carefully reviewed by our product team. They appreciate and understand the need for tracking revenue and expenditure related to prepayments and accruals, however at this time with other initiatives in the roadmap such as improving the bill creation and payment processes there are currently no plans for this in the pipeline.
We’re keeping a close account of the support in this here, and will continue to review this opportunity within future planning. If there’s any progress made I’ll be sure to share with you all, here.
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Jonathan Stokes
supported this idea
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Often, line items on a supplier bill will relate to an annual period or a month/period other than the calendar month in which the invoice is dated. Manual journals must be calculated and entered to achieve an accurate month-end close for management accounts purposes at present. It would be highly effective and helpful to be able to implement a workflow in Xero whereby the period that charges relate to could be defined at a line item level on a bill, and then automatically create period adjustments (accruals or prepayments calculated based on prorated daily values) to recognise the charges on an accruals basis spread across/within the relevant monthly period(s), with a corresponding report to support the balance of accruals and prepayments at any given balance sheet date.