Five Steps to Cash Basis Reports in Maconomy

Posted by Chris Girardin on October 10, 2019

accounting reports

Are you looking to create cash basis reports in Deltek Maconomy? While Maconomy’s out-of-the-box functionality is accrual based accounting, our flexible platform allows clients to generate customer-specific reporting on a cash basis. Read below and learn the process in five, simple steps. 

Five steps to cash basis customer-specific reporting in Maconomy

Generate customer-specific balance sheets and profit and loss reports in a cash basis format following the five steps below:

  1. Tag customer Accounts Receivable (AR) payments as revenue from a cash basis perspective
  2. Categorize revenues into segments and business units (Advisory, Audit, Bankruptcy, Legal, Tax etc.) based on the global/local chart of account mappings
  3. Tag employee, expense sheet, and vendor payments as costs
  4. Classify these as cost of goods sold or operating expenses, based on the global/local chart of account mappings
  5. Manage cash basis adjustments via special tags on the global or local chart of accounts using the statistics fields, as an example

Then, export the custom reports to a .CSV or Microsoft Excel file for further analysis or for importing into a third party system.

How to make adjustments?

Customers can control their own accrual to cash basis adjustments through setup via Maconomy’s Company Information Card, as a cash basis entity. As a reminder, this is not a legal entity, but rather a cash basis entity for bookkeeping. Book the accrual to cash basis adjustments via a general journal to that cash basis company.

How to consolidate reports?

Maconomy consolidates reports with inter-company eliminations identified via the general ledger entries in an analyzer report.  Once identified, remove the actual eliminations via an eliminating company setup in Maconomy. Then, run consolidation reports to include the eliminating company. Next, add the eliminating entries into their own column in the report to show the consolidated result net of the intercompany eliminations.

Customers who prefer to have a cash basis set of books set up as a company in Maconomy can create a cash basis company (company information card) and book accrual to cash basis adjustments via a general journal entry to the cash basis company.

Learn More

Contact Deltek Global Consulting and speak to a Maconomy business consultant to discuss the cash basis customer-specific reporting in more detail.

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