What are adjustments for?
The Adjustments module in ExpensePlus allows you to:
- record accruals, deferments, prepayments, creditors, and debtors;
- make fund to fund transfers;
- make transfers between income categories or expenditure categories.
It is mainly used at year-end when preparing your annual accounts, but equally can be used throughout the year if you want to account for income or expenditure in specific months, for example, ensuring your HMRC PAYE contributions are within the calendar month they correspond to or accounting for your Gift Aid claim on a monthly basis when claimed less frequently). There is no requirement to do this, it is purely down to your preference, other than at year-end.
Please watch this overview video which explains the functionality of the Adjustments module: