To create financial statements on the cash basis and others on the accrual basis for the same period, we must specify each account at a lower level, whether it will appear only on the cash basis, or on the accrual basis, or both, and then we specify if we want a list on the accrual basis or on the cash basis, so that if we specify that we want it on the cash basis, we do By deleting all accounts that are on the accrual basis from the financial statements and vice versa
In each entry, the two accounts must be on the same basis, either cash basis, or on the accrual basis, or both, for the sake of ease of writing the entries. Also, the credit side of any basis is equal to the debit side of the same basis, and therefore when extracting the lists on a specific basis, we delete any entry from the daily record It was on the opposite basis
To create financial statements on the cash basis and others on the accrual basis for the same period, we must specify each account at a lower level, whether it will appear only on the cash basis, or on the accrual basis, or both, and then we specify if we want a list on the accrual basis or on the cash basis, so that if we specify that we want it on the cash basis, we do By deleting all accounts that are on the accrual basis from the financial statements and vice versa
In each entry, the two accounts must be on the same basis, either cash basis, or on the accrual basis, or both, for the sake of ease of writing the entries. Also, the credit side of any basis is equal to the debit side of the same basis, and therefore when extracting the lists on a specific basis, we delete any entry from the daily record It was on the opposite basis