Re: [SL] AR balance sheet vs trial balance vs outstanding

[Michael H. <mh...@it...>]

Cash vs Accrual can certainly cause some problems, especially if  
you're cash based, because everything defaults to Accrual.
    That said, one does have the option to choose which way to run a  
report in virtually every case so unless you make a mistake and  
choose the wrong one the reports should(!) be correct either way.   
This may be the heart of the problem though, there may be some  
reports which simply don't pay attention to the setting.


Thanks,

Michael


On Apr 18, 2007, at 5:45 AM, ma...@hu... wrote:

>> Chris Johnson wrote:
>>> Mark, your clue re receipt and invoice happening in different years
>>> definitely seemed promising.
>
>> To me it seems you use a mixture of cash based accounting and accrual
>> based accounting?
>> AR for accruals, cash customers for cash based?
>
> This, I believe is the crux of the matter.
>
> If you are doing cash-basis accounting, I think you technically  
> should not
> be using invoices--you should enter cash receipts when the money  
> comes in.
>
> However, DS has given users like me enough rope, which I have used
> liberally.  (A situation I prefer.)
>
> That being said, I think technically it is possible to create cash- 
> basis
> reports that ignore invoices (and their dates) and just use the cash
> receipt date.
>
> But it can convoluted--what cash-basis date would you use for an  
> invoice
> line item that is associated with an expense account?  For example,  
> say
> you want to book advance payment discounts to a marketing expense  
> and you
> put that discount as a seperate line item on an invoice using a  
> special
> part number.  You can't use the invoice date, in case the invoice  
> is never
> paid.
>
> I guess you would book this as cash when the invoice is fully paid.  A
> partial cash payment would not trigger it.  There are probably other
> complicating wrinkles I am not considering, like returns, credit  
> memos,
> etc, etc.
>
> I'm not an accountant, but I've thought about this one a lot.   
> Improved
> cash-basis reports was the first item on my wish list.  :)
>
> m
>
>
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