QB Issue Resolution:
Deferred Revenue liability account.
I am assuming your customer paid you a retainer or a down payment for work that is not to begin until next year. You can only (in my view) do this if you use accrual accounting since cash basis demands that all money received is recorded as income the date it is in hand.
Receive payment all by itself creates a customer credit to be used later and without an income account even cash accounting will not show it as income since no income account is attached and in the future you simply apply the credit to new invoicing but since you have to deal with accrual reporting what you want to do is record this payment into Deferred Revenue now, then when work is completed you will 1. create an invoice which debits A/R and move the Deferred Revenue to A/R so that it can be applied to the invoice
Resolution for Issue 'How to I post revenue today which isn’t to be earned until January and February of next year?' available: Yes (Solved).
Source: Intuit Community forum.
How to I post revenue today which isn’t to be earned until January and February of next year?: 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 Customer Credit
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