Transactions - Accruals - Contract Module
Accruals are transactions performed to set aside funds, typically for percentage rent or for large expenses. Accrual transactions are automatically generated when the Generate Accrual action is performed on the Expense Accruals and Percentage Rent Accruals page.
To navigate to the accrual Transactions page:
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Navigate to Contract > Accrual Info > Transactions.
Use the links in the Navigation Pane on the leftmost side of the page.
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Follow a procedure below.
Add Accrual Transaction (Manual Method)
To add an accrual transaction:
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Click Add Item.
This displays in the Actions menu on the right side of the page.
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Select the transaction group from the Group field.
Create a new group or category.
Groups are the first level of organization in Lucernex. Groups are the parents of types, and grandparents of categories. Groups, types, and categories are used to simplify reporting.
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Select the transaction type from the Type field.
To add an expense type, follow the Add an Expense Type procedures.
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Select the expense category from the Expense Category field.
Create a new group or category.
Categories are the third level of organization in Lucernex. Categories are the children of types, and grandchildren of groups. Groups, types, and categories are used to simplify reporting.
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Enter the period begin date and the period end date in the Period Begin Date and Period End Date fields.
You can also click Calendar
to open the Date Picker and select the appropriate date. -
Select the Hold? check box if this accrual transaction should be placed on hold.
To learn more about the Hold flag, see our article Hold and Processed Flags.
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Enter the period number in the Period Number field.
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Select the year from the Period Year field.
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Enter the posting date in the Posting Date field.
You can also click Calendar
to open the Date Picker and select the appropriate date. -
Do one of the following:
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If you want to have the value in the Total Amount be the grand total, with all taxes included:
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Select the Include Taxes in the Total Amount? check box.
The Period Amount will be disabled, and the Total Amount will become editable.
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Enter any taxes as a amount—not a percentage—in the following fields:
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Primary Tax
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Secondary Tax
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Tax Amount #3
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Enter the total accrual amount in the Total Amount field.
The system automatically calculates the value of the Period Amount using the formula: Total Amount - Primary Tax - Secondary Tax - Tax Amount #3 = Period Amount
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If you do not want to include taxes in the total amount:
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Clear the Include Taxes in the Total Amount? check box.
The Total Amount will be disabled, and the Period Amount will become editable.
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Enter the amount that is being accrued in the Period Amount field.
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Enter any taxes as a amount—not a percentage—in the following fields:
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Primary Tax
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Secondary Tax
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Tax Amount #3
The system automatically calculates the value of the Total Amount using the formula: Period Amount + Primary Tax + Secondary Tax + Tax Amount #3 = Total Amount
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Select the currency type from the Currency Type field.
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If the accrual transaction has been processed, select the Processed? check box.
This flag is information-only. To learn more about the Processed flag, see our article Hold and Processed Flags.
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Enter a message for the memo line in the Accrual Message field.
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Select the organization that the accrual should be allocated to from the Organization field.
An organization is an internal cost center that is debited for payments.
To add an organization, follow the Add an Organization procedures.
You can view information about an organization by selecting the organization from the field and then clicking the View
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Enter a description of the allocation in the Description field.
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Enter notes in the Notes field.
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Click Save Changes.
This displays in the Actions menu on the right side of the page.
Your accrual transaction is saved. It appears in the Contract Accruals List.
Edit Accrual Transaction
To edit an accrual transaction:
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Select the accrual transaction you want to edit from the Contract Accruals List.
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Make your changes.
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Click Save Changes.
This displays in the Actions menu on the right side of the page.
The page refreshes. Your changes are saved.
Delete Accrual Transaction
To delete an accrual transaction:
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Select the accrual transaction you want to delete from the Contract Accruals List.
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Click Delete Item.
This displays in the Actions menu on the right side of the page.
A dialog opens, asking you to confirm your choice.
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Click Yes.
The accrual transaction is deleted. It no longer appears in the Contract Accruals List.
