Deferred Income Posted to the Wrong Period

This guidance is only for IRIS Financials Version 7.0.2103 or later. If using and older version, go to Deal with deferred income posted to the wrong period .

Deferred income cannot be posted and applied correctly if the relevant accounting periods either do not exist, or the period state set does not allow transactions to be posted to the period.

If an accounting period within a deferred income range has a state that does not allow transactions to be posted to it, the deferred income is ignored for that period and allocated to the next future accounting period that does. If no future periods exist, the remainder of the deferred income is posted into the Register period (REG.REG).

The examples in this topic provide details of how deferred income is posted for different scenarios regarding period state settings:

All periods have a period State that allows posting

If all the accounting periods exist and are set with a period state that allows posting, the deferred income is posted equally to each period.

All periods have a periods state but some do not allow posting

If one or more accounting periods have a state that does not allow transactions to be posted to it, IRIS Financials posts whatever portion of the deferred income that could not be posted to the next period that does allow posting.

Not all periods have been created and the last existing period does not allow posting

If no future periods have been created and the existing periods do not allow transactions to be posted, the deferred income that cannot be posted, is posted as separate documents for each outstanding period to the Register period (REG.REG).

To post the deferred income to the relevant periods from the Register period, you must change the state of the period to one that allows posting and move the deferred income documents to them.