Journal Entries
Smartwebs Accounting doesn't have a setting for clients to declare "Cash" vs "Accrual" basis because it records all system generated Journal Entries (Charges, Invoices, etc) as Accrual basis entries first & also as Cash basis entries in addition to the Accrual entries whenever Cash is affected (Deposits, Refunds, AP Payments, Security Deposits, Forfeits, etc)...
Adjusting/Manual Journal Entries can be entered as EITHER Accrual OR Cash (defined by the User on creation of the JE). Since there is not enough information in a manual JE, the system doesn't know how to create the proper Cash-basis JE when the User enters the Accrual version, so the User is expected to create one Accrual JE and one separate Cash JE.
So on "Add Journal Entry":
* If "Is Cash" is FALSE --> Accrual JE
* If "Is Cash" is TRUE --> Cash JE
Reporting
The Income Statement can be configured to show Accrual OR Cash basis balances for Expenses and/or Revenue in the same report... thus allowing the User to declare "Modified" Financials.
