Business Central / NAV UG
Business Central / NAV UG
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Deferrals in Business Central
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Deferrals in Business Central
#Functional We are currently on Version: US Business Central 21.4 and would like to know if anyone is creating deferrals in BC for revenue and expenses without any add on feature. We currently have an deferral add on from Binary Stream and are having issues with the deferrals. Many of the deferrals on revenue side are created using journal entry as our revenue report is generated from another platform. Recently we noticed issues with the expense deferral as well which is created when entering purchase invoice.
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8 Replies
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What sort of issues are you seeing? Deferrals can be a great tool, but they do have a few watch outs. The biggest one for me is that it posts all activities into the future. So, if you must amortize over 12 months, all 12 months must be open in the Deferral Posting date to post. Then if something is abandoned or written off, you need to reverse / correct those entries. We use them internally for both revenue and expenses.
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Hi Amanda
Does BC have its own deferral feature that can be used? As mentioned in my initial post we use Binary Stream add on for Deferrals. I do batch recognition on month close some of the new deferrals in prepaids sometimes change the recognition account. Not sure how but I have seen it happen. The JEs for revenue sometimes create two deferrals one with the correct amount and correct deferral for 12 months and another deferral with the same total deferral amount but the deferrals each month don’t add up to the total deferral amount, the second deferral is pulling an amount from another JE. Somehow the duplicate incorrect deferral created doesn’t show in the GL account, but I have noticed that some months I am off by the same amount and can’t do the reversal since the recognition account doesn’t have the amount to offset if I did the correction entry. Binary Stream is looking into it, but they don’t know what is causing this and how to fix it.
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@Vinita – BC offers a Deferrals feature. I am attaching 2 of my training handouts to show you the features. If you have more questions, feel free to reach out.
Steve
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