Enable accrual accounting
Once all five setup tasks are complete, you can enable accrual accounting for the company. Enabling is a one-way action — accrual accounting can't be turned off once it's on, and some setup decisions become permanent.
Before you begin
All five tasks on the setup checklist must show a green tick. Until they do, the Enable Accrual Accounting button stays greyed out.
If your company uses trust/client accounting, all bank accounts must be reconciled before you can enable accrual accounting. This makes sure your opening balances line up with your bank reality.
Confirm your Financial Year End and Accrual Start Date with your accountant if you're unsure — both become read-only once accrual accounting is enabled.
Enable accrual accounting
On the Accrual Accounting Settings page, click Enable Accrual Accounting at the bottom of the checklist.
Review the confirmation modal:
The summary at the top shows your accrual start date, financial year end month, and whether opening balances were imported or skipped.
The What happens next section confirms that all new invoices, payments, and transactions will create journal entries automatically.
Tick I understand this cannot be reversed.
Click Enable Accrual Accounting to confirm.
If you want to go back and change something first — for example, to import opening balances after skipping — click Go back to close the modal without enabling.
For trust accounting companies, if you have any unreconciled bank accounts, clicking Enable Accrual Accounting shows a blocking message listing the accounts to reconcile first. Reconcile them and try again.
What changes after enablement
Once accrual accounting is on:
The setup checklist is replaced by two summary cards on the Accrual Accounting Settings page: Accounting (accounting method, Financial Year End, Accrual Start Date) and Accounting Periods.
Financial Year End and Accrual Start Date become read-only.
Journal entries are created automatically for all invoices, credit notes, payments, allocations, transfers, and voids dated on or after your accrual start date.
Opening balances can no longer be imported. If you skipped opening balances and need to reflect historical balances, post manual journal entries.
A "Journals" menu will be available under the main "Accounting" navigation menu
The following accrual reports will be available under the "General Reports' area
Trial Balance report
Profit & Loss report
Journals report
The transaction lock that was in place during setup is lifted — you can create invoices, credit notes, payments, and allocations again.