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Former Member
May 28, 2008 at 12:23 PM

advance and accrual

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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