Can we use multiple accrual scheme on invoice journal?
I want to apply accrual scheme on vendor account as well, because I will pay lease payment to vendor and want to schedule it for cashflow.
To record lease payments for 12 periods [Jan to Dec] through accrual scheme, such as following.
Annual lease payments is 12,000/= which is not paid
Jan:
Expense Debit 1,000/=
Vendor Credit 1,000/=
Feb:
Expense Debit 1,000/=
Vendor Credit 1,000/=
Note: The thing is, everyone is defining prepaid happy scenarios, but how do we configure accrued expense not yet a paid