QB Issue Resolution:
You can change the accounting method from Cash to Accrual basis (for reports only) by following the steps given below,
1. Click on “gear” icon or Company name on the top right hand corner and select “Company Settings”
2. You will find four options on the left hand side of the screen.
3. Under “Company”, you will find “Accounting Method”. Click on it.
4. Click on the drop-down of Cash and select Accrual.
5. Click on Save and click on Done at the bottom right hand side of the page.
Kindly note that this settings is only to change the reporting method.
Your actual accounting method will remain on Cash basis.
If you wish to change the accounting method of the Company for your transactions also, kindly follow the steps mentioned below:
. Login to the QuickBooks Online company file and click on “Tax” on the left hand side of the page.
2. Click on Rates & Settings for VAT/CST/Service Tax.
3. Click on VAT Settings (in case you have selected VAT)
4. You will see the option where have you entered the VAT account number and other details. On the top of it, you will see “Reporting Method” and “Switch to Accrual”
5. Click on Switch to Accrual and click on Confirm.
This way your accounting method will be changed to Accrual basis.
P.S. These settings can be changed anytime and for all the Tax agencies you have in your company file (eg, CST, VAT and Service Tax).
Resolution for Issue 'Hi, How can I change QB from cash basis to accural basis? I need to customise report every time from cash to accrual. i want to make Qb to accrual forever.Please advise' available: Yes (Solved).
Source: Intuit Community forum.
Hi, How can I change QB from cash basis to accural basis? I need to customise report every time from cash to accrual. i want to make Qb to accrual forever.Please advise: 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 forever
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