Expense Accrual Automation

Automate your manual expense accruals to boost productivity, accelerate the close process, and provide the most accurate expense estimates powered by AI.

Expense Accrual Dashboard

1. Navigate to SquareWorks > Automate > Home.

2. Select Accruals in the sidebar.

1. Review Expense Accrual Dashboard

1. Expected Expenses: This figure represents the total expected expenses across all vendors with Purchase Order or General Accruals enabled.

2. Recorded Expenses: This figure represents the total posted expenses across all vendors with Purchase Order or General Accruals enabled.

3. Expense History: This line graph represents a historical view of posted expenses per period across all vendors with Purchase Order or General Accruals enabled.

4. Vendors: A comprehensive list of vendors with an assigned accrual type (either Purchase Order or General Accruals), including estimated amounts, recorded amounts, and variances for each vendor. Clicking on a vendor will open a detailed vendor view.

5. View Worksheet: Navigates to the Accruals Worksheet to perform final review and adjustments to accrual entries.

Vendor Detail

1. Navigate to SquareWorks > Automate > Home.

2. Select Accruals in the sidebar.

3. Select a Vendor from the vendor table.

4. Review Vendor Detail Dashboard

1. Expected Expenses: This figure represents the total expected expenses for this vendor in the current accrual period.

2. Recorded Expenses: This figure represents the total posted expenses for this vendor in the current accrual period.

3. Expense History: This line graph represents a historical view of posted expenses per period for this vendor.

4. Transactions: A comprehensive list posted transactions for this vendor including Transaction Number, Type, Date, Posting Period, Amount, Memo, and Status.

5. Contact Vendor: Opens an email message to the email address listed on the vendor record for convenient outreach of any expense related questions or necessary confirmations.

Accruals Worksheet

1. Navigate to SquareWorks > Automate > Home.

2. Select Accruals in the sidebar.

3. Select View Worksheet in the upper right hand corner.

4. Review the Accruals Worksheet

1. Worksheet Table: This table represents the GL level detail of all expense accrual lines that need to be reviewed. Columns include:

   1. Vendor: The vendor this journal entry will be associated with.

   2. Account: The general ledger account this journal entry will be associated with.

   3. Department: The department this journal entry will be associated with.

   4. Class: The class this journal entry will be associated with.

   5. Location: The location this journal entry will be associated with.

   6. Source: Displays whether this entry was based off a Purchase Order, General Accrual, or transaction pending approval. If the source is a transaction, clicking on the transaction name will open the source transaction in a new tab.

   7. Previous Month: The amount for this line posted in the previous period.

   8. Calculated Estimate: The total expense amount calculated for this line.

   9. Entry Amount: The amount that will be recorded, taking into consideration already posted amount and any manual adjustments.

   10. Adjustment: The ability to manually override any detail on the accruals worksheet and provide a justification for the update.

2. Search: The search bar allows you to search any field that is displayed in the worksheet table and quickly filter down to the applicable rows.

3. Filters: if operating in a One World Account, filter worksheet to a single subsidiary for review of all applicable accrual entries.

4. Create Journal: This button will pre-populate the Accrual Journal Entry after review of the worksheet is complete.

Journal Entry Creation

1. From the Accruals Worksheet, select the Create Journal Button. in the upper right hand corner.

2. Review Journal Lines.

1. Click Save to finalize the journal entry creation.