Secondary ledgers - Primary as Accrual and Secondary as Cash?
We want to be able to enter all transactions in an accrual basis system but also have a 'Cash' view of all transactions entered in the accrual system. The 'Cash' view needs to be at subledger transaction level but also at journal and balance level. In addition to viewing the transactions in the cash ledger, we also need to be able to report on it.
We were thinking of defining a primary ledger with accounting method 'Accrual' and a secondary ledger with accounting method 'Cash', will this achieve what we want?
We also have the following questions:
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Do you have to run Create Accounting twice? Once in the Accrual ledger and a second time for the Secondary Cash Ledger?