About Scheduled Transactions and GL Accounts

Scheduled transactions in Aptify are used primarily for deferred income, depreciation, and foreign currency gains and losses. Scheduled transactions allow any GL account entry to be created with a scheduled date and then sent to the general ledger (GL). Orders for subscriptions, memberships, and sometimes meetings make use of scheduled transactions to create a series of scheduled GL entries that move a portion of income from the deferred account to the revenue account on the scheduled date. Additionally, foreign currency orders post gains or losses due to the fluctuation in exchange rates to scheduled transactions.

The following describes the general process for working with Scheduled Transactions:

• When an Order ships, Aptify generates GL entries for the order. If the order contains one or more deferred income products, then the system debits the applicable A/R account and credits the Deferred Income account. The system also generates a Scheduled Transaction Group that contains all of the order's relevant Scheduled Transactions.
• A user expands the Scheduled Transaction Group into its individual Scheduled Transactions. Each Scheduled Transaction debits the Deferred Income account and credits the applicable Sales account.
• Periodically a user opens a view of Scheduled Transactions that displays those records dated today or earlier. Then, the user runs the Batch wizard to export the aggregate transaction details to the organization's accounting system.

This topic contains the following sub-topics:

• About Deferred Revenue
• About Scheduled Transactions
• About Scheduled Transaction Records
• Note to Administrators Regarding the DefaultOrganizationID Entity Attribute
• About Scheduled Transaction Groups
• Expanding Scheduled Transaction Groups
• Other Methods for Expanding Scheduled Transaction Groups