Question: When is an invoice expensed for cash-based accounting vs. accrual based accounting?
For accrual-based accounting, Invoices are expensed at the Ready for Payment step. If the period is open, invoices are expensed on the invoice date. If the period is closed, the invoice is expensed on the current (paid) date.
For cash-based accounting, the invoice is expensed when it is paid.