Cash & Accrual Accounting

[NewTNCPA]

Hi I just got a new job using JD Edwards. What's the deal with document types.
Cash entries, Accrual entries, cash & accrual entries, non-transmitting entries.
Why run two sets of books: cash and accrual? Cash for tax and accrual for financial statements?
I still don't understand how it all fleshes out.

Thanks

 

[Counterofbeans]

We use the "AA" ledger substantially. As a matter of fact, with the exception of fixed asset depreciation ledgers (for tax purposes), I can't think of a single ledger we use except for the AA ledger.

Years ago, we messed with our MX subsidiary and using different ledgers for that purpose and that turned out to be a disaster. I'd recommend getting specific help from JDE if you go that route, for it wasn't easy to follow FAS 52 in JDE at all.

We don't use or issue cash basis financial statements, everything is accrual based.