Category: General

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Cash or Accrual Accounting

December 2013 / PhreeBooksR36RC3 Author – Charles In PhreeBooks, only the accrual method is supported. This is the sort of decision to be made with your accountant. Local tax and reporting regulations will govern which Accounting Method you decide to use. Accounting Method : “One decision the owner must make, is whether to prepare the…
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Chart of Accounts (CoA)

February 2014 / PhreeBooksR36RC3 Author – Charles Definition: CoA The chart of accounts is the structured list of the company’s general ledger accounts (GL ‘Analysis’ Accounts). The list is used to track movements and prepare financial reports for authorities and owners. Different Businesses & Countries and Their CoA’s Wikipedia: The charts of accounts can, as…
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Database

February 2014 / PhreeBooksR36RC3 Author – Charles PhreeBooks curently uses the MySQL database only. Please note that it is strongly advised to set MySQL to default to the InnoDB format and not MyISAM, as apparently InnoDB is ‘more robust’. PhpMyAdmin seems to be set out-of-the-box to default to MyISAM – so beware. Quote from Dave…
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