Setting Cash vs Accrual Method

[R. Victor Klassen]

Well, actually it is a setting in Quickbooks, but not in GnuCash.

Quickbooks is accrual based.  To account using cash-based, requires fiddling with the posted date (which, happily is easy enough to do) on things that land on the wrong side of the year boundary - payments that are billed but not paid - to, or from your business.


On Feb 13, 2014, at 2:15 PM, Mike or Penny Novack <stepbystepfarm at mtdata.com> wrote:

> Brenda Reed wrote:
> 
>> Where would one set the accounting method for reporting cash or accrual? I
>> just cruised through the manual and could not find it. Also, is there a way
>> to do a keyword search on the whole manual and guide?
>> 
> Accounting on the "cash" basis or accounting on the "accrual" basis isn't the sort of thing that would be a "setting" in gnucash or any other accounting program.
> 
> If you are new to accounting/bookkeeping first try to understand what "cash basis" means because it is conceptually simpler. But if you are required to use the accrual basis or prefer to use the accrual basis you'll need to learn that too. Are these personal books or books for a business?
> 
> Michael
> 
> 
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