more-arw search

Q&A Forum

Invoice dates - Accrual vs actual

My company uses the accrual method of accounting. Up until working here, I had always worked with the cash basis. My question is when entering invoices, do I use the date on the invoice, or the last date that the invoice covers. We do have bills that we pay "in advance" like cell phone, but then others like electric and internet that are billed after the usage. I have always entered the bill as of the invoice date, but made note of the period covered. Which way is the correct way?


Len Green
Title: Performance Improvement Consultant and E..
Company: Haygarth Consulting LLC
LinkedIn Profile
(Performance Improvement Consultant and ERP Strategist, Haygarth Consulting LLC) |

What ERP/Accounting system do you use? What dates does it offer for AP invoice entry- invoice date, posting date (usually today)?
Are you trying to enter the invoice into the accounting period to which it relates, or are you trying to do an accrual because you lack the invoice?

As for cell phone bills, aren't you prepaying only certain charges anyway?


Get Free Membership

By signing up, you will receive emails from Proformative regarding Proformative programs, events, community news and activity. You can withdraw your consent at any time. Contact Us.

Business Exchange

Browse the Business Exchange to find information, resources and peer reviews to help you select the right solution for your business.

Learn more

Contribute to Community

If you’re interested in learning more about contributing to your Proformative community, we have many ways for you to get involved. Please email to learn more about becoming a speaker or contributing to the blogs/Q&A Forum.