Hi,
can anyone explain to me of the difference between these 2?
what is advance and accrual account for?
1
if i pass the following entry in FB50
line 1 balance sheet account for advances on costs (40) 5090.00
line 2 p&l account for expenses (50) 10.00-
line 3 balance sheet account for accrual expenses (50) 5080.00-
2
for accrual using FBS1, following entry
Line 1 GL Account for Expense Posting Key (40)
Line 2 GL Account for Accrual Posting Key (50)
thanks