Cash Basis Accounting

New functionality is introduced to handle cash based accounting along with the posting of accrual entries for Accounts receivable, Accounts payable and General ledger transactions. All the customer and vendor invoices full settlements through payments or credit notes are catered in this release along with dual posting. While inquiring the vouchers for settled transactions user can see the cash based accounting entries in the related vouchers section.

A new Cash based accounting parameter form is introduced to enable cash based accounting. New posting layer “Cash” is introduced to record cash based accounting transactions. The cash based entries will be recorded only for the posting types selected by the user on the parameters.