The quick read
Key points
- Keep invoice and payment references together.
- Use consistent basis and scope in comparisons.
- Resolve duplicate bills and payments.
Capture more than one date
An invoice date, service period, due date and bank payment date can differ. Keep the source document and label those dates clearly. The bank statement identifies a movement of money; it may not answer when an obligation arose or when the work was performed.
Use the workflow for the record
Review whether the item is a paid expense, an unpaid bill, a tenant charge or a later settlement. Check for an existing record before entering the payment. Recording a bill and then booking its payment as another unrelated expense can duplicate the activity.
Read the report controls
Check the selected dates and basis before comparing two reports or periods. Confirm that both views include the intended property and account scope. A difference between cash and accrual views needs an explanation from the underlying records, not an arbitrary balancing entry.
Let the reporting decision follow review
Give your accountant the timing details and ask which basis and adjustments apply to your situation. A software setting does not make a tax-method election or establish filing treatment. These are bookkeeping preparation steps, not tax advice.
Before you finish
- Keep invoice and payment references together.
- Use consistent basis and scope in comparisons.
- Resolve duplicate bills and payments.
Keep your next step simple.
Use the product guide for the app workflow, or contact support with your question. Bookkeeping reports are not tax advice; review filing decisions with a qualified professional.