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Differences between accruals and cash files

Is there any difference in how Reep deals with the data for accruals and cash files?

No. Reep treats both accruals and cash files the same way. When you import an accruals file, Reep converts it to cash for the purposes of providing a cash flow forecast. Reep takes all invoice dates as the effective date for cash forecasting.

Is there any difference based on accounting software?

No. Reep treats both accruals and cash files the same way regardless of which accounting program you use.

What is the meaning of accruals and cash?

As defined by the Australian Accounting Standards Board, accruals reporting means ‘the effects of transactions and other events are recognised when they occur (and not as cash or its equivalent is received or paid) and they are recorded in the accounting records and reported in the financial statements of the periods to which they relate.’

Whereas cash reporting means recording transactions and other events as effective when they are received or paid via a bank account.

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