Hybrid accounting

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DT775
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Hybrid accounting

Hi all - we use AccountRight for our reporting but our client ledgers are with third party software. In that third party software the accounting is flagged as hybrid accounting and that date is exported to MYOB.   When I run the MYOB gst reports and Profit & Loss reports in both accruals and cash, the figure are both the same.   Have I missed a setting somewhere?   Thanks  (I think I posted this query in the wrong section earlier, so apologies if it has been duplicated)

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Komal_S
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MYOB Moderator
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Re: Hybrid accounting

Hi @DT775 

 

AccountRight is accrual-based, and generating accrual and cash-based reports would differentiate in the figures between 2 reporting methods. If both the reports are the same, it would indicate that all the invoices in the system are closed (i.e. payment has been applied to them).


If there are still open transactions in the system, run the reports to that date and check if the figures are then different. 

Kind regards,
Komal

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