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About Scheduled Transaction Records

Scheduled Transaction records contain the general ledger (GL) entries that should be batched to the general ledger on a specific date. See About the Scheduled Transactions Form for information on the data stored in each Scheduled Transactions record.

Each Scheduled Transactions record has a Type. The Type drop-down list includes four types (Deferred Income, Depreciation, Mark-To-Market, and Other), of which, Deferred Income and Mark-To-Market are the most common. These two types are described below.

Scheduled Transactions Record  

Deferred Income Scheduled Transactions

Deferred income scheduled transactions are created by expanding scheduled transaction groups and are usually related to subscription or membership products. The amount in the GL entry is a portion of the total deferred income The scheduled transaction debits the applicable sales revenue account and credits the deferred income account for a portion of the total deferral amount from the corresponding order.

Deferred Income Scheduled Transaction records do not display on the Deferred Income tab of the Order form until the scheduled transaction groups have been expanded.

Mark-To-Market Scheduled Transactions

Mark-To-Market scheduled transactions are created by the Mark-To-Market object and record the gains or losses incurred due to foreign currency orders (orders that are not in the applicable organization's functional currency) and the fluctuation in exchange rates. The Mark-To-Market object uses the Currency Spot Rates service to determine the spot rate for the specific foreign currency order and creates a record associated with that order to track the spot rate. 

When payment is received for an order that has shipped or the Mark-To-Market wizard is run manually against shipped orders that have not yet been paid, the Mark-To-Market object compares the last date spot rate on the order with the most current and related currency spot rate from the Currency Spot Rates service. If there is a change, the new spot rate is saved with the order and a scheduled transaction reflecting the exchange rate gain or loss is created. The GL entries typically include a debit or credit to Accounts Receivable and a corresponding debit or credit to the Foreign Exchange Gain or Loss account.

See Using the Mark-To-Market Wizard for more information.

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