Welcome to the CustomBooks™ Labrador 2026.03.12 release. In this update, we are introducing essential improvements to how Bills containing Balance Sheet accounts are processed for 1099 reporting and Cash Basis posting. These enhancements are designed to standardize system behavior between the Previous and New Cash Basis models, provide clearer user guidance, and ensure your historical financial data remains strictly protected during the transition.
Improvements
1099 Reporting & Cash Basis Posting Update
We’ve improved how Bills containing Balance Sheet account types are handled for 1099 reporting and Cash Basis posting, ensuring clearer behavior between Previous Cash Basis and New Cash Basis while minimizing the risk of changes to historical financial data.
What’s Changing
Bills that include Balance Sheet account types (for example when posting expenses to asset or liability accounts) previously behaved differently depending on the “Allow Balance Sheet accounts in 1099” checkbox and whether the tenant was using Previous Cash Basis or New Cash Basis.
This update standardizes the experience while maintaining compatibility with historical records.
Key Improvements
Default Behavior Update
- The “Allow Balance Sheet accounts in 1099” checkbox is now enabled by default for Bills.
User Warning
- If a user attempts to uncheck the checkbox, a warning message will appear explaining that: Posting behavior in Previous Cash Basis and New Cash Basis may differ when the option is disabled.
Visibility Rules
The checkbox will only appear when:
- The tenant is using Previous Cash Basis, and
- The document date falls before the system’s Cash Basis switch deadline.
New Cash Basis
- For tenants using New Cash Basis, the checkbox is not shown, since it does not affect posting behavior.
Affected Account Types
The behavior applies when Bills include these Balance Sheet account types:
- Other Current Assets
- Fixed Assets
- Long-term Assets
- Other Current Liabilities
- Long-term Liabilities
- Equity
Historical Data Protection
To prevent unintended financial changes:
- Historical transactions remain unchanged.
- Existing documents continue to respect their original checkbox setting.
- No automatic re-posting of historical documents will occur.
This approach minimizes risk to previously recorded Cash Basis financial data.
Previous Cash Basis Support Period
The Previous Cash Basis posting logic will continue to apply:
- Through the remainder of the current year, and
- Until the customer’s calendar or fiscal year end (some tenants may extend into 2027).
- The system uses the standard deadline calculation procedure to determine this transition period.
Related Articles
CustomBooks™ Release Notes | Labrador 2025.11.20
We're excited to announce the release of CustomBooks™ Labrador 2025.11.20, bringing a new feature and several improvements to your experience! This update includes: A major New Feature to enhance Cloud Payroll management. Key Improvements in ...
CustomBooks™ Release Notes | Labrador 2026.02.12
Welcome to the CustomBooks™ Labrador 2026.02.12 update. This release focuses on enhanced financial visibility with new percentage-based reporting options, deeper integration with Avalara for automated tax compliance, and key workflow improvements for ...
Cash Basis Method of Accounting
Cash Basis accounting registers were updated in 2025 to align with the American Institute of Certified Public Accountant’s (AICPA) “modified cash basis”, simply referred to as “cash basis” by the accounting profession. This method of accounting is ...
CustomBooks™ Release Notes | Labrador 2025.10.23
CustomBooks™ Release Notes | Labrador 2025.10.23 We're excited to announce the release of CustomBooks™ Labrador 2025.10.23, bringing a range of improvements and fixes across several core modules. These updates are designed to enhance your efficiency, ...
CustomBooks™ Release Notes | Labrador 2025.06.06
Upgraded Cash Basis Cash Basis accounting registers were updated in 2025 to align with the American Institute of Certified Public Accountant’s (AICPA) “modified cash basis”, simply referred to as “cash basis” by the accounting profession. This method ...