FINSYNC handles both cash and accrual accounting. Accrual accounting takes into account money that you have earned or allocated to an expense but not actually collected/paid out.
Note: FINSYNC is set to Accrual reporting by default.
Switching between cash and accrual settings is easy. Follow these steps:
1) Login to FINSYNC.
2) Click the "Reports" tab in the top nav.
3) Click the "Settings" button on the right of the page.
4) Choose either "Cash" or "Accrual" and click "Save."
You May Also Be Interested In:
- Reports: How to Run Comparative Reports
- Reports: A/R Aging Explained
- Exporting Reports: CSV & PDF
- Bank Transactions: Adding Attributes
- Attributes: Filtering by a Single Attribute
For more articles related to Reports, Attributes, Opening Balance and Chart of Accounts (Click Here)
For the complete list of articles, return to the FINSYNC How-To Guide: (Click Here)