Our accounting is on a cash basis and we are currently paying an accountant to convert the accrual basis information from adagio to cash. Is Adagio able to do this??

Hi Holquist,

Adagio does not have any 'cash accounting' functionality, nor can it convert data from accrual to cash or vice versa.

Hi Sheri (sorry if I have the spelling wrong),

Tech Support is right, however...

Converting your statements from an accrual to a cash basis is really a simply matter of backing out the expenses from unpaid invoices. Since Adagio keeps track of the g/l transactions of the invoices you'd posted, you could created a report using Crystal Reports for Adagio that listed all the outstanding invoices and the ledger accounts they referenced. Use this report to create a batch to post into ledger. Before you post this batch, copy it, reversing the signs to restore the expense entries.

Does that make sense?

Andrew, thank you so much for the "idea". I actually create a payables balancing report for our accountant in excel which shows how much of the unpaid invoices as of the last day of that month are attributed to which account. So, all I would need to do is export the financial report data, subtract out those amounts, and I would have my cash basis financial statement. Am I understanding you correctly?

Hi there,

Yes - I think that's right. Why not try it and create a batch? Provisionally post the batch and print out the financial statements including the provisionally posted figures. Compare the results to what the accountant provides. Ask them to explain any differences.