General Ledger Income Statement

You can run an income statement report with ADVANTAGE Salon Software and Spa Software Management System.

 General Ledger Accounts can be up to 10 characters long and you can setup up to 9999 departments. Department Income statements can also be generated using the ADVANTAGE Salon Software and Spa Software reporting functions.  The General Ledger program follows GAAP (generally accepted accounting procedures) and a complete double entry accounting software  system.

CASH Basis vs. ACCRUAL Basis

This accounting software system can report on both cash and accrual basis for its accounting reports.  Essentially, you can run either type of report at anytime.  The tax regulations let businesses figure their taxable income on a cash basis, rather than on the accrual basis.  Cash basis accounting can result in the postponing the payment of income tax, although it ordinarily does not reduce the total amount of income tax over a period of years.   Cash basis means that you recognize revenue the time you receive the revenue or the time when you pay the expense.  Accrual basis means that you recognize the expense when you actual receive the bill not when you pay it or recognize the revenue when you bill for your services not when you get paid for them.

Advantage Software is a Salon Software Program, Medispa Program and Spa Management Software Great for Hair Salons, Day Spas, Nail Salons, Tanning Salons Advantage Salon and Spa Software is  designed by Aknaf Software Inc.  Visit Aknaf Software Accounting Software Website at http://www.aknaf.com

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