MIP Ideas Portal

Allow "A" (end of year adj's) to have dates other than Y/E date

The updated FASB reporting standards strongly suggest presenting the Statement of Cash Flows on the "Direct Method".  In order to do that, we want to be able to use the "A" Entry Type to record our year-end audit accruals (we manage our books on a cash basis during the year).  While we can do that presently, we cannot "auto-reverse" those entries since Abila doesn't allow "A" types for any date other than the fiscal year-end.  If that was changed (not only for journal entries but also for Invoice entry and CD entries) to allow any date, we could code all of our accrual entries with that "A" and then auto-reverse them on the first day of the next fiscal year.  Since Abila already allows us to "include/exclude" "A" entries, the reporting tools are all set to provide us with the cash basis income statement which would be the basis for the "Direct" Cash Flows statement.

I think other Not-for-profit organizations would also greatly benefit from this change.  

  • David Lee
  • Sep 18 2017
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