Better Way

[kser]

Hi,

I am wondering which is the best way -

I am doing bookkeeping for a business that only requires a monthly expense & income statement. I was entering all of the invoices into the maintain vendor field and then going back and checking them off in the payments option. But I must keep doing something wrong because after I check them paid, they are then not showing up in the expense report. Would I be better off to just make journal entries?

Thanks

[stevenlau]

Expense follows the invoice date, not "cheque date."

If you want to skip entering invoice, just simply go to "Payments" and choose the vendor, enter descriptions, amounts, etc. But, the expenses will follow the "cheque date."

[Diane Koers]

It depends on whether you're a "cash" or "accrual" setup. (Look under Maintain, Company Information.) Cash accounting shows on the income statement based on the check date, but accrual accounting is based on the invoice date.