Actuals

Actuals (or physicals) in accounting can be defined as actual costs and revenues that have occurred as opposed to amounts budgeted or projected into the future. Verifying actuals is part of the Period-End-Closing process and simply means ensuring that the actuals (or actual year-to-date costs and revenues) have been transferred correctly from an accounting system. Transferring actuals is normally done by running specific jobs either in the accounting system itself or in a third party tool between the systems. Once transferred the are stored as rows ONLY in the Posted folder (never in the Pending or Ready For Posting folders). Actuals are identified as document type ACC (Accounting) under Type.

To verify, filter to show only the actuals for the relevant period and review and verify the final resulting list of data, especially the YTD Actual Amount column with data in Accounting. Several records for different vessels and voyages for varying accounts will be displayed. Filter the list further by for example vessel and voyages to further verify the amounts. Once verification is made, the Period-End-Closing process can proceed to the next step.