QB Issue Resolution:

If the client files his taxes as accrual based, it is already counted as 2015 income, since accrual based account counts income as of the invoice date

but

if the client files his taxes as cash based, then that payment is 2016 income, cash based reports income on the date received

Resolution for Issue 'A payment was received in January for an invoice from Dec 15. How do I record this to reflect the money for 2015 income? My client didn’t start using QB prior to Jan 2016. All sales/invoice info was in Square. We’re not entering in all the previous FY info into QB – so there is no 2015 data in the system, just starting fresh for 2016. Using QBO Essentials. Updated info: The client was cash based last year, and has switched to accrual this year. Thanks for your help!' available: Yes (Solved).
Source: Intuit Community forum.

A payment was received in January for an invoice from Dec 15. How do I record this to reflect the money for 2015 income? My client didn’t start using QB prior to Jan 2016. All sales/invoice info was in Square. We’re not entering in all the previous FY info into QB – so there is no 2015 data in the system, just starting fresh for 2016. Using QBO Essentials. Updated info: The client was cash based last year, and has switched to accrual this year. Thanks for your help!: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for accrual
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Error Recovery for accrual [Canada]
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