Accruals :
Go to "general journal"
Post entry as " Expense Dr
Accrued accounts payable Cr "
For that you have to create balance sheet account which is "Accrued accounts payable"
And then post the entry.
You have to reverse the above entry when the payment is made.
Deferrals :
1) Create a balance sheet a/c called Deferred costs, under other
current assets.
2) Enter journal entry - Dr Deferred costs Cr The Expense a/c to
defer.
3) Enter another journal entry - the reverse of the above.
I hope this will help you.If requires clarification , you may comment below.
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