Goldenseal Accounting Software Topics-- Cash Accounting

Cash Accounting

Does Goldenseal handle cash accounting?

Sure. You don't need to do anything special to use Goldenseal for cash accounting (which bases expense on when the expense is paid for, and income on when it is received).

HINT-- Goldenseal accounting software also works great for accrual accounting.

Goldenseal accounting software uses your bank transactions to calculate amounts for cash accounting.

Cash basis income happens when you receive sales or project income and use Deposit Funds to put them in the bank..
Cash basis expenses happen when you pay for the expenses. You can do that with an instant payment, or with the Pay Bills command.

To see a report of cash income and expenses, choose Banking from the Reports menu, and choose All Bank Transactions from the submenu. Enter a date range, and then click the Update button to see an itemized list of all cash income and expenses during the period.

HINT-- for a summary of cash income and expenses, choose Financials from the Reports menu, and choose Income Statement or Profit & Loss Statement from the submenu.

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