cash vs accrual basis accounting

[wispr]

So it appears that WHMCS uses a cash basis when calculating income, expenses, etc. We're in the process of switching over to WHMCS now and this will become an issue for us. Has anyone else switched from accrual to cash basis (which I'm not really sure we can even do) or is their a module out there that changes the way WHMCS calculates those things?

[rsearley]

The way i understant it is:

 

Whmcs is a billing package, not and accounts package..

 

The reports in whmcs are there just to help you with an overview of what is going on

 

You take your invoices, and expenses and put them in a proper accounts package, and that will deal with taxes using the method it is set up too..

 

 

You can run into problems if you use whmcs alone, for example, when someone adds credit to thier account, and invoice is raised, so you of your bigger customers deposits £100 into his account, an invoice for £100 is raised

 

He then buys a domain name for £100, an invoice is raised and it taken from the credit on his account so invoices for £200 have been raised, but he has only actually spent £100

 

I have seen stories of people using whmcs alone, then running into problems when it came to a tax inspection time.