In a standard closing process, all the costs of the projects are checked (such as time and schedule, supplier orders, receptions and supplier invoices) before completing revenue recognition, especially for the completion method.
The aim of this module is to generate the Receivable invoice and deferred expenses entries on the status date.
The process is composed of 3 steps:
Calculation of Receivable Invoices or Accrued Invoices
Calculation of deferred expenses
Note: you can avoid the not validated invoices by checking Exclude non validated invoices.
You have received an amount of 20 euros on the class 6 account.
Two lines are generated matching the closing entry details and its reverse entries.
If the entries are detailed per third-parties, you get 2 entries, each one of them composed of 3 lines: