Adjust Accrued Expense Subsidiary

These steps explain how to make an adjusting entry on the subsidiary ledger for an accrued expense in 3 parts.

Any adjustment made to a subsidiary record should balanced back to G/L’s.
For Accrued Expense items, an adjustment will alter the Accrued to date balance on the subsidiary record. If you wish to use this accrued expense record for another period after it is paid, this screen should be used to bring the balance down to zero when this accrued expense is actually paid.
REMEMBER: If you change the Accrued to date amount by using this adjustment feature, you may also wish to adjust the Total expense to accrue amount on the maintenance screen. (In Tool #1772 Work/View Subsidiaries, highlight the accrued expense and select Edit instead of Adjust.)

Launch Tool #1772 Work/View Subsidiaries.
Highlight the accrued expense to adjust and select Adjust.
In the Transaction post date field, enter the date that the activity needs to be posted to the subsidiary record history and the general ledger.
Enter a Transaction description of the activity.
Enter a Debit/Credit amount for the G/L’s to be adjusted.
- A Debit to the Liability Account will deduct from the balance accrued.
- A Credit to the liability will increase your accrued amount.
Use Enter to accept the entries.
Click Comments to enter additional information on the adjustment, if applicable.
Click Create J/E if a journal entry needs to be created to post to the CU*BASE General Leger. Click Skip J/E if the adjustment only needs to affect only the subsidiary record.

Validate Activity

In Tool #1772 Work/View Subsidiaries, highlight a previously adjusted subsidiary.
Select History.
Validate activity posted was as expected.
- The Accrued to date field on the subsidiary record should match the Accrued to date field in the history.

Launch Tool #61 Create/Post GL Journal Entries to post the J/E.
Highlight the journal entry just created and select Post.
- The journal entry should have an ID of “AE” and the effective date should be the date you entered as the Transaction post date in your adjustment.
Click Post.