Here is the most current version of our updated processes. That is why our Recommended Ivy & QBO Processes are so essential for the integration between Ivy & QBO. We not only love Ivy for all its modern features, beautiful invoices, and product clipper on top of that our team loves Ivy is because (when used properly) it uses the basic accounting principals that have held the test of time and has the ability to leverage managerial accrual accounting when filing on cash basis.Īccrual accounting records invoices on your financials regardless if it is paid or not. Ivy checked all our boxes and was a step ahead of any other accounting software for interior design. Logistis for Designers does tons of research to uncover the best new accounting technologies and only uses the ones we believe are top of the line. Accrual accounting shows designers a better picture of their profits unattached from whether or not cash is in/out the door. Our simple answer, accrual basis shows income when an invoice is generated while cash accounting does not record the income until it hits your bank. Good news is that our CEO, Marissa Jones explains the difference between accrual and cash-based accounting in the attached article for Ivy Magazine. Designers always ask us to explain accrual accounting and how it pertains to the interior design industry.
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