Some companies like to use the accrual based financial reporting system but others like to have cash basis reporting. Out of the box is set up for accrual based reporting. But you do have another option. Aim Technologies provides an . This allows you to use standard reporting tools within Microsoft Dynamics GP to:
- Prepare cash-basis and accrual-basis financial reports simultaneously;
- Use Cash Basis Reporting regardless of the company’s specific account format structure;
- Customize relationship of cash-basis and accrual-basis accounts; and
- Automatically create master records related to Cash Basis Reporting data.
Cash Basis Reporting provides easy identification and reporting of cash transactions originating in Payables Management, Purchase Order Processing, Receivables Management, Invoicing, Sales Order Processing, Bank Reconciliation, Project Accounting, and US Payroll.
So just remember that you always have options with Microsoft Dynamics GP - cash-basis financial reports, accrual-basis financial reports or both!
By Aim Technologies,
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I work for small business of about 100 employees. We require an ERP accounting system set-up as accrual, but we need to run true cash basis reports as well. That means when I run my P&L or balance sheet all journal and liability adjustments have been removed. We have many prepaid or other accrual type items that represent an cash outlay in one period, but amortized or depreciated in another.
We need a system that can readily produce a cash base report.
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