Follow

ID662 - Inactive or Terminated Contracts with Accrual Balances, Overview & Sample

Monthly list of unearned accrual balances for terminated or inactive contracts

Jump to Overview | Samples | Variables | Alert Functionality | Best Practices & Tips |  Related Alerts |

Click to Subscribe

Overview

Overview

This alert fires monthly and checks for any contracts which have been Terminated or made Inactive while still having an accrual balance. You can cross-check results by using search in Contracts Active equals 'No' and Unearned Balance is greater than or is less than "zero" - you may have unearned balances with blanks returned after your search. Sort by unearned balance column to bring the ones with amounts to the top of the list. This alert ignores blanks and just lists any positive or negative unearned balances. To capture balances either re-run Accrue Contracts up to current date or use Accrual adjustments if necessary.

 

Run Schedule: Monthly on 10th

Type of Output: Email

 

*  *  *

Sample

Sample

ID662Sample.PNG

 

*  *  *

Variables

Variables

ID622Var.PNG

 

Variable X: Enter Branch Number(s) alert should consider or leave blank for ALL

 

*  *  *

Alert Functionality

Alert Functionality

-Alert only considers Contract Records that have either been Terminated and/or are Inactive to notify of an outstanding accrual balance that needs to be accrued/recognized.

These contracts can be seen by filtering Service Contract by Active = No and Unearned balance is greater than $0.00

Sort by unearned balance column to bring the ones with amounts to the top of the list.1.PNG

-Any contract reporting on alert should be reviewed and manually accrued. Do so by going to (1) Service / Contract Accruals, (2) filter by Contract Number, (3) Create List, and (4) Audit accruals (for review):

4.PNG

Pay special note to the date associated with accrual:

5.PNG

You may need to back date your Accrual date filter as accrual may need to "hit" a previous month / year:

6.PNG

 

*  *  *

 

Best Practices & Tips

Best Practices & Tips

-Part of your month end closing checklist should be to accrue contracts. This can be done via eAgent task or manually via Service / Accrue contracts:

2.PNG

(1) Enter date which is last day of the month, (2) Create List, and (3) Audit accruals (for review):

 

3.PNG

 

 

 

*  *  *

Related Alerts

Related Alerts

None at this time

 

*  *  * 

T

 

 

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.
Powered by Zendesk