Saudi Aramco GI 230.035 INVOICE ACCRUAL PROCEDURES

This document is Saudi Aramco General Instruction Manual GI 230.035, outlining the critical procedures for Invoice Accrual. It meticulously details the policies and processes for recording outstanding charges for supplies, services, and contract claim settlements within the same accounting period they are received or rendered, even before payment or invoice processing.

The instruction covers requirements for accruals, including specific monetary thresholds and timing for both quarterly and year-end accruals for materials and services. It also addresses the handling of accruals for construction projects, automated accrual processes, and the specific accounting entries, including transaction codes and general ledger accounts.

The document provides clear guidance on submission procedures, monitoring, and the reversal of accruals to ensure accurate financial reporting and expenditure tracking. This instruction is essential for maintaining the integrity of financial statements and adhering to accounting best practices within Saudi Aramco.

Ideal for accounting specialists, finance managers, and project accountants working in the oil and gas industry or similar large-scale organizations.