Deferral
Definition
Deferral accounting is an essential task whereby income and expenses are allocated to the correct accounting period, e.g., a quarter or fiscal year. This is necessary for proper period-end and year-end close income statements and ensures the clear allocation of invoice amounts, if the services provided and the corresponding payment occur in different accounting periods. Typical examples of this are advance payments or financing.
In TRASER DMS 365, deferrals are recorded in special accounts and can be defined using templates.