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ITI Deferred
Expense Module
The Infinium Payables Ledger
Application is an excellent system
for recording invoices, incurring
expenses, making payments, and
reporting the company’s liabilities.
Despite all the robust
functionality found in the Infinium
PL application, it falls short in
providing a clean and simple way to
track and book deferred expenses.
Consider a situation where a company
receives an invoice which needs to
be recorded in the system.
The PL system is going to
book 100% of the expense to the
current period.
But sometimes, the company
would prefer that the expense
associated to the invoice be spread
out over several periods or even
deferred until a later period.
This is where the ITI
Deferred Expense Module can help.
Most companies manage all their
deferred expenses through a
spreadsheet or manual process.
These methods rarely
interface directly into Infinium and
are not capable of automatically
creating the Journal Entry for each
month’s deferred expenses.
They also tend to be time
consuming and cumbersome.
To help with this problem ITI
has developed a module that
interfaces directly with the
Infinium PL
and GL systems.
ITI’s Deferred Expense Module is a
subsystem to the Payables Ledger
system that allows the user to defer
the expense associated to a new
invoice.
Some attributes of the system
include:
-
Allows the
user to setup
multiple deferred
asset accounts.
-
Allows
the user to specify
the Year and Period
to begin applying
the deferred
expense.
- Allows
the user to specify
the number of
periods the deferred
expenses will be
applied.
- Users
can set up a minimum
dollar amount that
must be met in order
to be eligible for
expense deferral.
-
Users have full walkback capability
from the General Ledger system.
-
Users can set up and make changes to
the expense detail outside of
Payables.
-
System interfaces directly to the
Infinium GL and will build the month
end deferred expense journal entry.
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Includes reporting for:
-
New expenses
-
Detail on deferred expenses
-
Amortization schedule
- Forecasting
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