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Accounting Notes

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Below is a summary of how the some of the bookkeeping reports are calculated. There are some significant differences between Version 8 and previous versions in this area of the program.


The Jewelry Shopkeeper Version 8 and later releases primarily default to accrual basis. If you enter an invoice payable for any expense (merchandise or operating expense), the invoice total is expensed in the month the invoice was received, not when the invoice is actually paid. Any checks that were not applied against specific invoices (often called hand-checks) are expensed in the month they were written and added to the total of the invoices payable expenses for the month.


This differs from previous versions of the Jewelry Shopkeeper where merchandise purchases were calculated only from invoices posted (not including any checks, even hand-checks, and not including journal entries.) This also differs in that previous versions calculated operating expenses solely from the total of the checks that were written that month and gj entries (not from invoices received that month.)