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 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.
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