Angela Suckling (Customer) asked a question.
Has anyone changed accounting basis from Hybrid to Cash (Xero)?
I'm seriously considering doing this as our Xero datafile is completely clogged up with LEAP journals and reconciliation is a nightmare (we have them combined into one line per account, but still, not actually having invoices in Xero isn't true hybrid accounting anyway, so I've been struggling to see the point of being on Hybrid).
Has anyone done this? If so, I'd love to know your experience, and things to be aware of.
Thanks so much!
Hi Angela,
If you are looking to switch from Hybrid to Cash, you can contact our Implementations team at implementations@leap.com.au.
This is the team who will both:
Thanks,
Simon
Hi Simon,
Thanks, but I'm actually looking for user experience here. Your implementations team, CEO and now external consultant, Lana, know about all of our issues and why I'm considering this. I posted here wanting to hear from other users who have done this change.
Hi Angela,
We switched from Hybrid to Cash - you will definitely need the Leap team to assist, but once it's done its much simpler and cleaner. I do a journal entry in Xero at the end of each month to have the aged debtor balances reflect on the balance sheet as a snapshot of that moment in time and then reverse it on the first day of the next month. Other than that, it does make the figures cleaner, although still no hope of reconciling GST with the way the entries come through from Leap as massive multi line journals.
Thanks for your response Caroline, I appreciate it, and am very much looking forward to my Xero file being cleaner! That's exactly how we'll be doing it.