Put the reporting basis on the P&L Report
Would you add the reporting basis to the header or footer section on the Profit & Loss Statement so it shows whether the reporting is either accrual or cash basis?
This is important in the U.S. because it impacts certain taxes and the reports must support the numbers submitted to the tax agencies. The reports also become permanent records in case of future audits.
I personally have no preference as to where you have the report show the reporting basis. It could either be part of the report title or somewhere in the footer section.
John Lane
shared this idea
Hi there,
In the header section of the profit and loss report we now display the reporting basis(accrual or cash).
You can write to us at support@zohobooks.com if you have any queries regarding this.
Hope this helps.
Regards,
Zoho Books Team