Recording On An Accrual Basis

The accrual basis process required to enter data into the cashbook and reconcile your monthly cashbook as follows:

1. Enter all acquisition tax invoices as received. The date entered should be the current day's date, no reference is needed and enter the tax invoice date and number. If you use the same supplier more than once in a month, enter all invoices on the same transaction using splits to record invoice date and number.
   
2. Create all invoices at the time the good or service is transacted, and move immediately to the cashbook. 
   
3. Enter recipient created tax invoices as they are received. The date entered should be the current day's date, no reference is needed and enter the RCTI date and number as shown on the RCTI.
   
4. Enter any internal bank account cash transfers and payments (tax invoices, wages, superannuation etc) to be processed by EFT payment via the EFT, Acc/Pay Cheques icon.
   
5. Enter any cash transfers between bank accounts held on the same Agrimaster file via the Cash Transfer icon. 
   
6. Edit all transactions/invoices that have been paid for the month by entering the correct cheque number and the correct pay date from the cheque. Enter all other items that appear on the bank statement via the Transaction icon. 
   • Edit all transactions/RCTIs that have been deposited for the month by entering the correct payment or receipt date from the bank statement. 
     
7. Move any outstanding invoices that have been received to the transactions screen via the Basic Invoicing, Acc/Rec icon. Edit the pay or rec date to the date funds are deposited in the bank.
8. Once all data has been entered & to reconcile all bank statements click on the Reconciliation icon.
   

Please Note: It is recommended that if you are recording on an accrual basis that you use Enhanced Invoicing.