Financial and Property Reporting by Accrual Date

Running the 230-Financial report by Accrual date allows for different settings to manage the data that will be included. 

An Accrual basis report that includes unclosed items should be considered a ‘preliminary’ report since the balance can change once the month is closed.  Once the reporting period is closed the report should be run for Closed items only and this can be considered a ‘final’ report.  These balances will not change unless the user purposefully makes entries to affect that closed period or the month is re-closed to add new data to that period. 

An Accrual basis report with unclosed items can include unclosed items with a Journal date up to but not later than the Accrual date specified since ‘future’ items cannot close back into a prior month. 

When unclosed items are to be included in this report those can be included per the following selections:

  • Current Processing Month - Show unclosed items in the ‘current processing’ month as shown in Company Selection and Status.
  • Journal Month – Show unclosed items in the Journal date of those items.
  • Base Report Date – Show unclosed items in the month for the Base Report Date entered on the financial report setup.