Would it at all possible to change the current Balance sheet report to be able to have a periodic report as well. In other words one should be able to select a specific month from a certain date to a certain date and then have the report as it is now as a year to date report.

[image] kobus_Jhg: Would it be correct if there is no change on the P&L report? Yes [image] kobus_Jhg: The P&L does not reflect an expense have been paid. Correct, as the P&L has already reflected the expense via the provision entries, the P&L doesn’t need to directly reflect the paym…

@Brucanna Thank You for your assistance. I will be using your suggestion. It is much less work. I have one question though: - [image] Brucanna: Some provisions such as accounting fees could be adjusted when the invoice is received. Say the provision account receives 100 per mth, so a total of…

[image] Brucanna: How so. The contra to a P&L accrued expense is a BS liability provision. If you are going to be debiting an Asset provision account, what account are you crediting to accrue the expense - P&L income ??? I was not referring to crediting any P&L account. I was referring to par…

@Tut @Brucanna Tut, you are right in some cases it is funds set aside, but is that not a liability? It is definitely going to be invoiced and spent just like Insurance or accounting fees. Only the amount to be spent is still unknown.

[image] kobus_Jhg: it is funds set aside, but is that not a liability? No. A liability is an amount you are now obligated to pay to an outside entity in the future. Examples are accounts payable (your supplier has invoiced you and you owe money to the supplier) or bank loans (the bank has loa…

@Tut @Brucanna Tut, How would you propose we do it? CR asset provision account and DR the expense account?

Personally, I would not do this at all. I would use a provisional account only to set aside funds for major purchases such as large fixed assets.

@Tut @Brucanna Tut, One sometimes get a major expense : - Advertising (This can be a major expense which can cost hundreds of thousands of rand depending on what one wants to do.) Promotions (This cost item can cost a lot of money as well) Legal Fees (One can be sued for millions of rand for examp…

What you decide about those situations are management actions and are really not related to how to use Manager.

Balance Sheet Report + Processing Provisions

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kobus_Jhg June 20, 2021, 3:30am 37

@Tut @Brucanna Tut, I will leave it as is. It will be in Provisional accounts under Liabilities.

Make bank account show in chart of account then create subaccount under it?

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Balance Sheet Report + Processing Provisions

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