1 Reply by ghcltda

(1 replies, posted in Accounts Payable)

Anuj,
When accounting your income and expenses, there are basically two methods of accounting:

1) Accrual Method, where all expenses and revenues are booked when they are billed or invoiced

OR

2) Cash Method, where you book the expenses and revenues when you actually pay your bills or receive payment for your invoices.

Which method you should use is a conversation you should have with your accountant as it will have tax implications and in some countries  the tax code will require you to select one or the other. You should however use only one method. As a new Front Account user, I do not know what the default setting and/or if there is a way to change this but I believe it probably exists.
Regards,
G Vaz

Go to forum: Accounts Payable

2 Reply by ghcltda

(4 replies, posted in Accounts Payable)

We are evaluating Front Accounting (congratulations for a vibrant forum and an elegant forum) and this ability is very important for our daily operations as often times the sales orders contain a lot of items and having to retype them gives a lot of room for the human error factor, not to mention the time it takes.

Is this something currently available on the new verions or being considered for a future version?
I have extensive accounting background but not a lot of PHP knowledge...so I have to ask: If not available, is this something relatively simple to be programmed so we could hire it done?

We would also really like the ability to add one more field to the inventory items, is this possible?

Appreciate the help.
Regards,
Guil Vaz

Go to forum: Accounts Payable