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I understand that MYOB now, like Quickbooks, allows users to have a Cash P&L or a Non-Cash P&L.
My suggestion is that it is essential that the P&L on the top right hand cprner notates the type of P&L ie
Cash P&L or Non-Cash P&L
For tax purposes, depreciation is included whether cash or non-cash.
The movement in Receivables is the difference between cash and non-cash.
Personally, I believe there should be no option to have a cash or non-cash P&L.
As a former banker, the most important Financial Statement is the Cash Flow Statement.
I understand that in America the Cash Flow Statement is required for small business.
"P&L to notate Cash or Non - Cash"
The new Profit and Loss report will denote the Accounting method on screen and in the top right of the PDF printout.
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