Accrual Basis Reporting

Did you know OGsql General Ledger reports can be generated by Accrual Basis to show balances by the GL Accounting month rather than by Journal date (transaction date/production month) or Cash date?

This is helpful when accounting for prior period adjustments because they can be included in the current processing month rather than changing an older, closed period.  

Keep these things in mind:

1. To utilize the Accrual Basis to its fullest, closing the GL month regularly, and consistently is required.  The GL Close Month process will assign the Accrual date for the GL month being closed when the Journal date of new, posted GL transactions is on or before the GL month being closed.  

2. Adjustments can be made to a closed accrual month with a manual journal voucher that has the Accrual Date field populated at the time the voucher is final posted. 

If you have questions, please contact Support.