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Dear John,
I have a prectical issue.
We have made the budget for a certain period and now I have to input the actual data(monthly), however I don’t know whether I should input the actual data using the accrual bases of accounting, or the cash bases.
I personally think that accrual bases should be used, could you please advice me !!!!!!!!!!!!!!Thanks a lot,
LilitIt really depends on how the budgets were initially prepared and what the policy of the company is – there is no rule.
It would be better to enter on an accrual basis, but some companies prepare their monthly accounts on a cash basis just to save time.
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