[GNC] cash basis and accrual basis
Adrien Monteleone
adrien.monteleone at lusfiber.net
Thu Oct 22 05:14:37 EDT 2020
It isn't a 'view'. If you want to work on cash basis, you record the
transaction when money physically (or digitally) changes hands. If you
want to work on an accrual basis, you record the transaction when the
expense is incurred or the income is earned without regards to actual
exchanges.
Regards,
Adrien
On 10/21/20 5:34 AM, HaxNet wrote:
> Hi,
>
> Is there a way to choose which basis I want to view? Right now, it's defaulted to Accrual.
>
> When I pick the Income Statement, and income hasn't been received yet, I don't want it to show that there's revenue.
>
> Thank you in advance.
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