Accruals method of accounting
The attached spredsheet has a comparison of the 2-1800 Accounts Payable account in both Accrual & Cash modes. In the Cash Mode the accounts show that the amount was recorded as a debit in expens...
Forum Discussion
Hi MichaelSpall
Sorry to hear that you have had that experience with contacting our phone-based team. Can you please also export the reports as PDF for both accrual and cash basis so I have a better view of the transactions on each report?
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Hi Samara,
Thanks for getting back to me. Atatched is a PDF version of accruals and one of cash for both AR & AP.
Regards,
Michael
Hi Michael (MichaelSpall)
I've had a look at the reports and the screenshots together. The bills mentioned have an Issue Date of 04/07/2021, and the Accrual bills mentioned General ledger Accrual report is being filtered for the date range of 01 Jul 2020 - 30 Jun 2021.
For this reason, the transaction showing on Cash Mode but not Accrual mode is working as intended. If you run the report again from 01 Jul 2021 - 30 Jun 2022, you should be seeing that transaction.
See Help Article: GST/Tax reports for more information on how the accounting mode will change what transactions will be displayed in each report.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Hi Samara,
Attached is SP001426 which is what I think we were talking about. I can see that the issue date is 04/07/2021 but the posting in the GL is 03/06/2021.
The cash is received in June & the posting is in June so why isn't the system properly reporting what the GL states? The fact that it was issued on a later date does't reconcile with what has been reported and what should be reported.
If the in fact the issue date is what is to be reported then this should be shown in the GL. There seems to be a mismatch here.
What do you suggest needs to be done to avoid this?
Hi Michael (@MichaelSpall)
Sorry for the delay in response. I've had a look at the screenshot you attached and had a look for it on the Accrual and Cash reports.
On the Cash report - you will see that payment listed with the date of 03/06/2021:
On the Accrual report you will see that payment is missing on that date around 03/06/2021:
This is how I expect a transaction with a payment date of 03/06/2021 and an issue date of 04/07/2021 to be displayed on both the Cash and Accrual reports respectively.
Hope that explanation gives a bit more of a clarification on how both the reports behave.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
