Acrural Accounting in 2+ TenMastery Series WinTen2+ Webinar.
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Transcript of Acrural Accounting in 2+ TenMastery Series WinTen2+ Webinar.
![Page 1: Acrural Accounting in 2+ TenMastery Series WinTen2+ Webinar.](https://reader036.fdocuments.in/reader036/viewer/2022062515/56649cf05503460f949c01ea/html5/thumbnails/1.jpg)
Acrural Accounting in 2+
TenMastery SeriesWinTen2+ Webinar
![Page 2: Acrural Accounting in 2+ TenMastery Series WinTen2+ Webinar.](https://reader036.fdocuments.in/reader036/viewer/2022062515/56649cf05503460f949c01ea/html5/thumbnails/2.jpg)
Trainer & Connection Information
Lisa Wilhelm-StantonPhone: 877-359-5492 x1258Email: [email protected]
Connect to AudioDial 877-746-4263Enter Participant Code 02 11 940#
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Upcoming TenMastery WebinarsFebruary & March 2014 TenMastery Series
Webinars are conducted every Tuesday at 11:00 am EST. Recorded versions of each training will be added 24-48 hours after the live training.
February 25th - Using Financial Report Writer Accounting Reports in Scribe (WT2 / 2+)Trainer: Tara Short
March 4th - Modifying an Existing Report in Scribe (WT2 / 2+)Trainer: Lisa Wilhelm-Stanton
March 18th – Balancing Section 8 Transactions to General Ledger in 2+Trainer: TBA
March 25th – How to Handle Initial Incoming Portable Move-Ins in 2+Trainer: Terrence Tichenor
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Training Agenda
What is Accrual Accounting?– Brief Description
What does that mean?– In Tenmast Programs
What is next?– Setup of TAR
How will this work?– Section 8 Initialization
Then what?– See how things post to GL
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What is accrual accounting?
The accrual method records income items when they are earned and records deductions when expenses are incurred. For a business invoicing for an item sold, or work done, the corresponding amount will appear in the books even though no payment has yet been received – and debts owed by the business show as they are incurred, even though they may not be paid until much later.
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What does that mean?
Section 8 Developments and the Liability GL Accounts are now in Tenant Accounts Receivable setup
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What is next?Everything needs to be mapped in TAR from the Development to the Transactions
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How will this work?Section 8 Initialization
– Prepare and post invoices
CASH ACCOUNTA/P (ACCRUAL)
Account EXPENSE ACCOUNTADMIN FEE ACCOUNT
Debit Credit Debit Credit Debit Credit Debit Credit 18,616.00 18,616.00 111.69 111.69
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Then what?
Check Processing– Invoices show as being paid after the check processing has been completed
CASH ACCOUNTA/P (ACCRUAL)
Account EXPENSE ACCOUNTADMIN FEE ACCOUNT
Debit Credit Debit Credit Debit Credit Debit Credit18,616.00 18,616.00
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How?General Ledger
– View Accounts• Edit Specific Account # (Balances and/or Details tabs)
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Let’s Talk and view programLet’s show what setup will look like and answer your questions.