Introduction

Accruals refer to adjustments that must be made before financial statements are finalized. 365 Cannabis gives our users the ability to account for different types of accruals. This document will provide use scenarios.

If you would like to use the accruals module, please contact your project manager or account manager or email support@365vertical.com.

Possible uses:

• Brokerage Fees, Sales Commissions, Rebates, and Promotions.

• Monitor posted sales/purchase invoices & credit memos.

• Amounts can be accrued on % of the Line Net Amount, % of the Line Gross Amount, or on the line quantity.

• Accruals have the option to be posted to the G/L.

• Closing documents can be tied to customers or vendors.

• Closing amounts can tie to G/L Accounts or Charge Items.