Forum Discussion

MSpalliera's avatar
MSpalliera
User
2 years ago

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 expense (Account

5-2800) and a credit to the Accounts Payable and when the payment was made a Debit to Accounts Payable was made and a credit to Cash at bank (AC 1-1000).  The net affect is the expense is recorded on the Profit and loss account, the cash has been paid from the bank account and accounts payable is $0.00.

 

But

 

In the Accruals mode it is only showing a Debit to the Accounts Payable (AC 2-1800) & a Credit to Cash at Bank (AC 1-1000).   There is no record of the transaction in the expense account?  The net effect is the cash has been paid from the bank account, there is a debit of $2,833.11 in accounts payable and nothing i expense.

 

How do I get the Accruals mode to correctly report the transactions?  

7 Replies

Sort By
Replies have been turned off for this discussion
  • SamaraM's avatar
    SamaraM
    Former Staff
    2 years ago

    Hi MSpalliera 

     

    Sorry to see that no one has replied to you yet. We have been made aware of a situation where the report doesn't display all of the entries if the bill has a line with a negative amount but is not an item (so uses the service layout). 

     

    It's hard to check if this is the case with only the report. Can you open the bill in question and see if the Item ID field is empty, but the amount shows as -$ ? If this is the case, you will need to either remove it or create an item to use for that transaction.

     

    If that does not help, could you respond with a screenshot of the bill as well?


    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

    • MichaelSpall's avatar
      MichaelSpall
      Contributing User
      2 years ago

      Hi Samara,

       

      Thank you for getting in contact with me.  Unfortunately your suggestion didn't work, I have atatched example of the AP & AR Invoe or Bill.  

       

      Note I have an MYOB case number already it is: 01136379 and it was lodeged over 1 week ago.  I rang up on Monday to see where it was at as the 4 day period was over.  June answeree the phone & when the call got too difficult she hung up on me.  I also spoke to Falguni origianlly & asked fro an update & I have received nothing from her.  

       

      I must say the service from MYOB has been very disapointing so far.   Though you actually following up on the query is quite refreshing, so thank you.

       

      Hopefully this can be solved as it doesn't make sense.

      • SamaraM's avatar
        SamaraM
        Former Staff
        2 years ago

        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.