Cash Basis Accounting

Accurate, Easier and Reversible Cash Basis Reporting

With Cash Basis Accounting for Microsoft Dynamics SL, formerly known as Solomon, you will never have to perform manual entries again to switch your General Ledger from standard accrual-based accounting to its cash basis equivalent. Cash Basis Accounting for Microsoft Dynamics allows you to generate the accounting entries you need to convert to the cash basis for any given period range. You can recalculate at will. The actual percentages used for each transaction for a given open document can be viewed from the history screens.

In addition to making your reporting process easier and reversible, the module also features a fully trackable audit trail. The module even includes all the reports you need to see exactly how a given period was calculated and the documents involved from Accounts Receivable or Accounts Payable. The module also features transaction history screens with all of the actual percentages used for each transaction for a given open document.

The system also allows you to generate entries to whichever ledger you like. You can post the entries to your actual ledger, which will alter your actual books, or you can simply generate them to a separate ledger, enabling you to have both accrual and cash basis reporting in FRx.

Main Features

• Supports actual or statistical ledger.
• Can run or re-run any period (or range of periods) for any fiscal year an unlimited number of times.
• Tracks processing history.
• Full reporting audit trail from Accounts Payable and Accounts Receivable to General Ledger.
• All journal entries created auto-reverse in the following period.

How Does the Cash Basis Module Work?

• This module processes all open AP and AR documents for a given period.
• It takes each open or partially open document and calculates the percentage of the document that is still open and not paid (the percentage is between 0 and 100%) and creates General Journal entries for each transaction of the document with the debit or credit amount derived by multiplying the original transaction amount times the outstanding percentage of the document.
• General Ledger batches are created and set to the status of balanced in the General Ledger. If the batch is a reprocessed period, the original general ledger batches are reversed out.

Screenshots

Take a look at the Cash Basis Accounting brochure.