QB Issue Resolution:
Checks you Wrote? Cash basis accounting?
Then you incurred expenses the minute you cut the checks. Cleared or not has no effect on P&L.
It is proper GAAP . It withstands IRS audit.
Resolution for Issue 'Arent outstanding checks a short term liability? Can QBO reporting track check CLEAR dates and use these for reports? Using o/s checks on PnL messes up my financials?' available: Yes (Solved).
Source: Intuit Community forum.
Arent outstanding checks a short term liability? Can QBO reporting track check CLEAR dates and use these for reports? Using o/s checks on PnL messes up my financials?: 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 basis accounting
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Error Recovery for basis accounting [Canada]
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