Introduction
Greg needs an introduction as to what accruals and deferrals are from an accounting perspective as he's not familiar with this concept.
Secondly, as part of the close process he needs guidance on posting journal entries to record accruals or by using recurring entries. He needs to learn what Apps are used in the SAP system to record these transactions.
Accrual and Deferral Postings
During the close, the accounting department needs to identify, in line with accounting practices, any accruals or deferral (prepayments) that need to be recorded in the general ledger, in accordance with GAAP (Generally Accepted Accounting Practices).