In our jurisdiction farms are permitted to choose whether to use cash or
accrual, and there are various tax advantages to using cash-based.
Happily, December/January is the time of lightest business, so the difference
isn’t huge when it comes to accounting.
I do find I need to unpost and re-pos
All very understandable. It has always intrigued me how accountants deal
with 'late payments' i.e. bills paid after the close of the year. If I
understand the discussion, ongoing (accrual based) businesses are always
behind when it comes to an analysis of the state of play, unless all
invoices
On 5/31/21 9:08 PM, Alan Hopkins wrote:
Hello Howard
I agree with both Michaels - you need to understand the difference between
accounting records & reports prepared on an accruals basis vs a cash basis. You
should do some reading on basic accounting.
GNUCash used for business uses the accrual
Hello Howard
I agree with both Michaels - you need to understand the difference
between accounting records & reports prepared on an accruals basis vs a
cash basis. You should do some reading on basic accounting.
GNUCash used for business uses the accrual basis - (invoices are
regi
On 5/31/21 10:42 AM, Michael Hendry wrote:
On 31 May 2021, at 15:10, Howard M. Fried wrote:
I have several invoices that were issued in 2020 but paid in 2021. These funds are
not included in a P&L report for 2021, apparently because the report is based
on date of invoice issue, or have I miss
> On 31 May 2021, at 15:10, Howard M. Fried wrote:
>
> I have several invoices that were issued in 2020 but paid in 2021. These
> funds are not included in a P&L report for 2021, apparently because the
> report is based on date of invoice issue, or have I missed something.
>
> Is it possible t
On 5/31/2021 10:10 AM, Howard M. Fried wrote:
I have several invoices that were issued in 2020 but paid in 2021.
These funds are not included in a P&L report for 2021, apparently
because the report is based on date of invoice issue, or have I missed
something.
Is it possible to get the 2020 S
I have several invoices that were issued in 2020 but paid in 2021.
These funds are not included in a P&L report for 2021, apparently
because the report is based on date of invoice issue, or have I missed
something.
Is it possible to get the 2020 Sales that were paid in 2021 into the
report fo
