I use IRIS GP Accounts software and am wondering which dates are best to use when posting transactions to the cashbook particularly as it affects the income/expenditure reports that are generated. I might be over thinking this but would really appreciate checking how I am entering transactions:
The system has "non-integrated" sales and purchases ledgers.
In the purchase ledger I enter the invoice date, and then the date when payment is issued i.e the date I wrote the cheque, sent the BACS.
In the sales ledger I enter the invoice date, and then the date payment is received (but not banked).
I then add each transaction to the cashbook - you literally click on the "add" button - but I am not sure which date to use for the cashbook entry. Should I mimic the bank statement, or just use the date the income was recieved and the date the expense was paid i.e date of cheque?
