Cash and Accrual

[Fullick]

Hi,

We run on a Cash Basis has been set up for years.  By accident I clicked on GST Accrual and here is everything that has been entered for the quarter.  Is this common.  It was also all there on the Cash Basis.  The only difference was the GST collected and Paid, which is correct.  What I need to know is why this is so.

Regards

Bronwyn

[Tracey_H · Accepted solution]

Hi @Fullick 

Thanks for your post.  On an accrual basis all transactions dated within that quarter will be reported as accrual is based on the transaction date, not when payment was made or received.  An invoice dated in December but paid in January will be reported in the Oct-Dec BAS. The cash basis is based on when payment is made or received, an invoice dated in December but paid in January will be reported in the Jan-Mar BAS. So I would expect to see all transactions dated in the quarter to appear in the Accrual reports for that quarter, regardless of whether they have been paid or not.

Please let me know if you need further help.

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