Overview:
This process has been developed for the Month End process for companies that wish to accrue uncertified claims within their processing period. The batch is a reversing batch which you can choose to export the data to Excel via the Export button and/or to your financial system.
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Note: closing a batch does not stop the movement of the accruals. If you generate a batch with no Profit Centre, all transactions for the selected Financial Company will move into the batch. The Contract Claim Accrual account is set up in the respective Financial Company details on the GL Accounts tab. A second reversal batch is automatically created for the next period, ready to export and reverse the accrual. |
We have made changes to this process so that it is re-runable. The new changes are only enabled with a new beta control parameter until we decide to make the change permanent. Use control parameter ‘BETA FEATURE - Enable Finalise Feature for Contract Claim Accruals’, and check all details of how the new process works here.
The way the process has always worked makes the generation of claim accruals essentially irreversible because the system creates the reversal and moves the Entered and Approved claims into the next period as part of the process. So if there is something wrong, like an unapproved claim that should have been approved and exported, or maybe something wrong with the GL coding, the process could not be re-run. The original process is described below.
Screen Guide:
Choose the Financial Company (and Profit Centre if you want to narrow down the accrual), select + New to create a new batch, defaulting to the Financial Company you selected, then select to Generate & Batch.
The Batch will be created. Select the Financial Company to see the batches that have been created for that company. Where the transaction has been batched, the Batch No field will be filled in. If you have a batch selected and choose to Generate & Batch again, it will regenerate the batch based on the current filter.
Use the Maintain button to open the Batch screen. Here, you can make changes to the batch header and\or to Print the batch.
Next Steps:
Once the batch is generated, you can close and export the batch through Export Control. The reversing batch in the next period will automatically be generated, ready to reverse the accrual.
If you do not wish to send accrual batches to your financial system, be sure to tick Not For Export on the batch.
FAQs:
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Process Flow: