Cash accounting for landlords

Accounting
1

I have searched the support articles and found in 2015 and later in 2024 a message that QuickFile doesn’t offer receipts and payment ( cash) accounting as distinct from Income and Expenditure ( accruals). Is that still correct please because as a landlord I need to record cash accounting and not accrue income as I don’t want or need to raise invoices only for accounting purposes. Any advice would-be appreciated

2

Hello @Radish

You may find the below article useful

https://support.quickfile.co.uk/t/generate-a-cash-based-profit-and-loss-report/41745

3

Thanks Steve, that’s interesting but convoluted as it’s based on invoicing.

I’m looking for a simple receipts and payments chart of accounts starting with cash receipts and then cash payments.

I don’t think Quickfile is that basic.

Thank you for your help

Best wishes

Rod

4

It’s true that QuickFile reporting is generally based on the invoices rather than the payments, but if you always start from the bank account side and create your sales and purchase invoice records as part of the bank tagging flow - tag income as payment from a customer and create the invoice at that point, same with expenses - then your P&L and other reports are technically accrual based but the numbers on them will be the same as a cash basis report since the invoice dates always match the payment dates.

5

Thank you. That sounds like a sensible work around, I’ll try that.