Automo Finance can now keep your books on an accrual basis
Automo Finance can now keep your books on an accrual basis. Invoices and bills hit the ledger the day they are issued rather than the day they are paid, so…
New feature · Operations ·
Automo Finance can now keep your books on an accrual basis. Invoices and bills hit the ledger the day they are issued rather than the day they are paid, so revenue and costs land in the period they belong to, receivables and payables show up on the balance sheet, and GST in the ledger matches the GST on your return. Every report has a cash/accrual switch, foreign-currency documents convert at the rate on the document's date, and there is a real year-end close that rolls retained earnings and locks the year. Cash-basis workspaces are unchanged. This release also fixes a set of issues in the recently added finance features. For anyone using multi-entity consolidation, intercompany eliminations were leaking back into the trial balance and the profit & loss — those now exclude them again and agree with each other. Scheduled reports were covering the wrong dates for monthly and quarterly schedules, could re-send the same report every day if something went wrong, and exported negative amounts in a way spreadsheets read as text. Australian payroll now accepts older eight-digit tax file numbers, and contractor withholding is no longer at risk of being booked to the GST account. Bulk re-coding insists you preview exactly what you are about to post, eliminations only apply to the entities in the group you picked, supplier payment runs group bills the same way the payment does, and year-end statements count a full year of super for large teams.
September 2026 · Releases & improvements
Record a payment once and split it across several invoices or bills · The design assistant has a new Agent mode
