Information
The Accounting Method determines the means for revenue reporting and the available accounting functions in RMS.
Accrual Accounting is an Accounting Method where revenue is reported based on when the Charges are created on the account in RMS.
Cash Accounting is an Accounting Method where revenue and expenses are reported when the Receipts are created on the account in RMS.
Below is a summary of the key differences in these Accounting Methods.
Accrual Accounting |
Cash Accounting |
- Revenue is reported for the Accounting Date that Charges are created in RMS.
- Not based on Receipts.
- Expenses are reported on the Accounting Date the Expense Charge is created in RMS.
- Accounts Receivable, Balance Transfers, Charge Redirection, Transfer to Guest Account & Split Rates are available.
- Financial Revenue as shown on the Management Charge Report.
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- Revenue is reported for the Accounting Date that Receipts are created in RMS.
- Not based on Charges.
- Expenses are reported as they are paid out in RMS.
- Accounts Receivable, Balance Transfers, Charge Redirection, Transfer to Guest Account & Split Rates are not available.
- Financial Revenue as shown on the Management Cash Report.
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Properties should consult their accountant prior to making changes to their Accounting Method in RMS.