Question asked by Nel Hargrave 10 years ago
Hi I am moving to cash basis accounting for 2013/14
Are there any reports set up which support this?
Do I need to change the way the depreciation is shown on my management reports (as under cash accounting, the full value of most items becomes an allowable expense?
Nel
Hi Nel - the full version of CB is designed around "accruals" accounting however, if you process all income and expenses through the bank account(s), without entering (and paying off) invoices & bills, then all the reports will become cash based.
A shortcut using the current version is to use the Cashflow report as the Profit & loss account which should equate to a cash basis set of books.
Finally, if you do decide just to use the books via the bank/cash accounts, you may be better off using the Cashbook version of the software, as it's cheaper: https://www.clearbooks.co.uk/apps/cashbook
Hope that helps
Best answerHi Nel - so am I and I've been doing it for 40 years!
thank you! still getting my head around accounting....
Hi Nel,
As this is an accounting based query, I will need to confer this with our consultant accountant and then report back to you on this matter, once I've heard back from him. I hope this is okay?
Kind Regards,
Shaz
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