• "I’m trying to understand the difference between Cash-Based and Accrual Accounting and which one Molo uses."
  • "My accountant mentioned I need Cash-Based reports, but I don’t see a way to run them in Molo."

Resolution Steps

  1. Understand that Molo supports Accrual Accounting only. There is no reliable method in Molo to generate Cash-Based reports.
  2. Recognize that QuickBooks Online (QBO) offers a Cash-Based reporting option for marinas that require this accounting method.
  3. Review the differences between the two accounting methods:
    • Accrual Accounting: Records transactions when they are earned or incurred, regardless of when cash changes hands.
    • Cash-Based Accounting: Records transactions only when money is received or paid.
  4. Verify that all Molo financial reports (including Invoices, A/R, and related exports) are generated using Accrual Accounting.
  5. Use QBO’s Cash-Based reporting if a facility requires that reporting perspective for reconciliation or tax purposes.