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MYOB Essentials

Reports: General ledger details -Cash basis

Experienced Partner

29Posts

7Kudos

0Solutions

29 Posts
Experienced Partner
Australia

I understand that there aren't any current plans to update the Reports available in LiveAccounts in the near future.

 

I PLEAD and BEG with you to make an exception to this and include;

1.  Profit & Loss Report on a Cash Basis, and

2.  Account Transactions on a Cash Basis

 

LiveAccounts would be the perfect solution for several of my clients except for these missing reports & hence I am hesitant to recommend they subscribe.  LiveAccounts is aimed at Small/Micro Business and the majority of these run on a Cash Basis for GST reporting etc..  The reports requested above are integral in assisting the business owners with planning & Cashflow management. 

 

They are also extremely important in BAS & IAS reporting to verify information.  Determination of Cash Profit & verifcation of same is critical when determing variations to PAYG Instalments on a quarterly basis that some Accountants prefer/insist on to ensure a more accurate payment & reporting of PAYG obligations for the year, minimising the need for additional payments when the Tax Return is completed.

 

My clients need to record their Bills & Sales on an Accrual basis so that at any given time they can look into the Cloud (LiveAccounts) & see what is due, therefore, it is not practical to run LiveAccounts entirely on a Cash basis just to obtain the Cash reports, which is the only way I can see that they could be produced as it stands.

 

Please seriously consider including the above 2 requested Cash Basis reports in your next update.

 

Thank you

 

"Cash Basis reports (P&L and Account Transactions)"

Current Status: Done
Last Changed: December 2016

Thank you all for your interest in this idea. The Profit & Loss report and the General Ledger Details report now can both use the Cash basis option.

5 Comments
MYOB Moderator StevePick
113 Posts
MYOB Moderator
Hi Ma. The P&L is now Cash basis, and we are working on the General Ledger report as well. Regards, Steve
SigridOMalley
3 Posts
User

Hi Steve, I can see your comment that the P&L is now in Cash basis - is this only for LiveAccounts? I am working in Account Right Plus v19.9 and badly need the P&L Multi on a Cash basis. Would appreciate if you could let me know..

THanks,

MYOB Moderator Matthew_W
2,173 Posts
MYOB Moderator

Hi SigridOMalley, thanks for the feedback, this board is for Live Accounts only, AccountRight already has this feature available under "Reports->Accounts->Small Business Entity->Profit & Loss [Cash]". The Cash basis for this is not available for Multi-Period  however. You can suggest that it be added into a future AccountRight Update on the AccountRight Ideas Exchange at http://www.myob.com/ideas/

SigridOMalley
3 Posts
User

Hi Matthew_W, Thanks for the feedback much appreciated. Will do so..

MYOB Moderator CloverQ
7,179 Posts
MYOB Moderator

Thank you all for your interest in this idea. The Profit & Loss report and the General Ledger Details report now can both use the Cash basis option.