Vision is designed as an accrual-based application, but you can track both accrual and cash-basis data in Vision. If your firm enables cash-basis reporting, you must add a cash-basis account in the Chart of Accounts Info Center for certain accrual-based accounts.
When you set up your cash-basis accounts, make sure that they differ from the accrual-basis accounts. If you use Multicompany, cash-basis accounts must be globally available (or available to the same companies for which the corresponding "regular" account is available).
If
Vision detects possible duplicate records during this procedure, the Potential Duplicate Records Found dialog box displays. This dialog box lists any existing record that already has the identifier that you are trying to use for a new record.
To add a new cash-basis account, complete the following steps:
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From the Vision Navigation menu, click
.
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Click
New and select
New Account.
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Enter a unique identifier and specify the remaining account information on the tabs of the Chart of Accounts Info Center form.
The number in the
Cash Basis Account field must differ from the corresponding accrual-basis account.
-
Click
Save.
After you enable and set up cash-basis accounts, you must enter historical account balances on the Account Balances History form in History Loading.