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accrual accounting: I import payroll from Intuit Online Payroll into QBO. When I import, what date becomes relevant? The payroll process date or the actually payment date? Let’s say I run payroll on 12/31 but the DD and checks are not issue until 01/02. When I import the payroll, what date does it come in? Does it matter if I am cash or accrual accounting?

Answer 1: For Tax purposes, the only date that matters is the payment date. Whether you’d want to record it differently for accrual accounting would be up to you and your accountant.

Answer 2:

I’ll be happy to explain what date becomes relevant for payroll.

 

The date you are seeing after it has […]

Resolution for 'accrual accounting issue: 'I import payroll from Intuit Online Payroll into QBO. When I import, what date becomes relevant? The payroll process date or the actually payment date? Let’s say I run payroll on 12/31 but the DD and checks are not issue until 01/02. When I import the payroll, what date does it come in? Does it matter if I am cash or accrual accounting?' available: Yes.

The accrual accounting 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 accrual accounting issue yourself by looking for a resolution described in the article. If it is a complex accrual accounting issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrual accounting support options.

For more information about resolving issues related to accrual accounting in Quickbooks/QBO or to get support for the issue 'I import payroll from Intuit Online Payroll into QBO. When I import, what date becomes relevant? The payroll process date or the actually payment date? Let’s say I run payroll on 12/31 but the DD and checks are not issue until 01/02. When I import the payroll, what date does it come in? Does it matter if I am cash or accrual accounting?', click the link below:

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accrual accounting: I have rent expense which will be due on 1st of every month but the payment will be done before 10th. now i want to book the expense when itz due without making payment.

If you report on cash basis, you can not

but if you report on accrual basis, then enter the bill as of the 1st, pay it when you wish, the expense is booked in accrual accounting as of the date of the bill

Resolution for 'accrual accounting issue: 'I have rent expense which will be due on 1st of every month but the payment will be done before 10th. now i want to book the expense when itz due without making payment.' available: Yes.

The accrual accounting 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 accrual accounting issue yourself by looking for a resolution described in the article. If it is a complex accrual accounting issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrual accounting support options.

For more information about resolving issues related to accrual accounting in Quickbooks/QBO or to get support for the issue 'I have rent expense which will be due on 1st of every month but the payment will be done before 10th. now i want to book the expense when itz due without making payment.', click the link below:

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accrual accounting: Accrual accounting purchases

As far as QuickBooks goes, a PO is a NON-posting transaction.  No money is changing hands and no accounts are being affected.

 

If you didn’t receive the items OR bill until 2019, then just enter the bill and receive the items in QuickBooks with the 2019 date same as you normally […]

Resolution for 'accrual accounting issue: 'Accrual accounting purchases' available: Yes.

The accrual accounting 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 accrual accounting issue yourself by looking for a resolution described in the article. If it is a complex accrual accounting issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrual accounting support options.

For more information about resolving issues related to accrual accounting in Quickbooks/QBO or to get support for the issue 'Accrual accounting purchases', click the link below:

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accrual accounting: How do I change from accrual to cash basis in QuickBooks 2014?

QB is accrual accounting, all you can do is have it report on a cash basis

any report can be changed from accrual to cash using the customize button

and menu Edit>preferences>reports & graphs>company tab can be set to default to cash basis reporting

Resolution for 'accrual accounting issue: 'How do I change from accrual to cash basis in QuickBooks 2014?' available: Yes.

The accrual accounting 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 accrual accounting issue yourself by looking for a resolution described in the article. If it is a complex accrual accounting issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrual accounting support options.

For more information about resolving issues related to accrual accounting in Quickbooks/QBO or to get support for the issue 'How do I change from accrual to cash basis in QuickBooks 2014?', click the link below:

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accrual accounting: can I create an invoice that has payment due upfront and then balance due on completion of project?

No, not unless you issue the invoice for the full amount and the customer only pays a portion, but there is no way to format the invoice to show that.

And an invoice is  a sale in accrual accounting, cash based it does not matter much

Best thing is create the invoice […]

Resolution for 'accrual accounting issue: 'can I create an invoice that has payment due upfront and then balance due on completion of project?' available: Yes.

The accrual accounting 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 accrual accounting issue yourself by looking for a resolution described in the article. If it is a complex accrual accounting issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrual accounting support options.

For more information about resolving issues related to accrual accounting in Quickbooks/QBO or to get support for the issue 'can I create an invoice that has payment due upfront and then balance due on completion of project?', click the link below:

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accrual accounting: How do you record an item billed in December of one year that won’t be paid until the following year for accrual accounting

“Looks like they do prefer to do their year end accounting on accrual basis so there have been a lot of general journal entries made in the past years that I can see.”

Ooh, that is really bad. That makes a mess in the file.

AR  = invoices.

AP = Bills.

And Credit card […]

Resolution for 'accrual accounting issue: 'How do you record an item billed in December of one year that won’t be paid until the following year for accrual accounting' available: Yes.

The accrual accounting 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 accrual accounting issue yourself by looking for a resolution described in the article. If it is a complex accrual accounting issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrual accounting support options.

For more information about resolving issues related to accrual accounting in Quickbooks/QBO or to get support for the issue 'How do you record an item billed in December of one year that won’t be paid until the following year for accrual accounting', click the link below:

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accrual accounting: How can I change from Accrual BAS to Cash basis please?

QB is accrual accounting, all you can do is change the basis of the reports, click customize and select the basis you want

Resolution for 'accrual accounting issue: 'How can I change from Accrual BAS to Cash basis please?' available: Yes.

The accrual accounting 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 accrual accounting issue yourself by looking for a resolution described in the article. If it is a complex accrual accounting issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrual accounting support options.

For more information about resolving issues related to accrual accounting in Quickbooks/QBO or to get support for the issue 'How can I change from Accrual BAS to Cash basis please?', click the link below:

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accrual accounting: Bad debt write off after partial payment in accrual accounting

Probably the best way is to create a credit memo for the balance you’ll write off, and on it either use an item for bad debt or back out the sales using the same item(s) used on the invoices.  As you save the credit you’ll be prompted to apply it, […]

Resolution for 'accrual accounting issue: 'Bad debt write off after partial payment in accrual accounting' available: Yes.

The accrual accounting 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 accrual accounting issue yourself by looking for a resolution described in the article. If it is a complex accrual accounting issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrual accounting support options.

For more information about resolving issues related to accrual accounting in Quickbooks/QBO or to get support for the issue 'Bad debt write off after partial payment in accrual accounting', click the link below:

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accrual accounting: Can I invoice an entire amount upfront with staged payments?

an invoice is a final sale, in accrual reporting that means the total income is posted as of the invoice date, how that affects your annual income subject to income taxes in Australia is your decision.

I prefer to set up an estimate for each partial payment, each dated for the […]

Resolution for 'accrual accounting issue: 'Can I invoice an entire amount upfront with staged payments?' available: Yes.

The accrual accounting 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 accrual accounting issue yourself by looking for a resolution described in the article. If it is a complex accrual accounting issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrual accounting support options.

For more information about resolving issues related to accrual accounting in Quickbooks/QBO or to get support for the issue 'Can I invoice an entire amount upfront with staged payments?', click the link below:

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accrual accounting: How to split the total payment amount into 2 different checks to expense each to the correct month without reconciling again?

Are you on Cash Accounting like most small businesses? If so it is January expense no matter how you look at it and splitting the check is pointless

If you are Accrual accounting then the expense for December  (if you entered the bill prior to 12/31) was already properly recorded in December […]

Resolution for 'accrual accounting issue: 'How to split the total payment amount into 2 different checks to expense each to the correct month without reconciling again?' available: Yes.

The accrual accounting 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 accrual accounting issue yourself by looking for a resolution described in the article. If it is a complex accrual accounting issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrual accounting support options.

For more information about resolving issues related to accrual accounting in Quickbooks/QBO or to get support for the issue 'How to split the total payment amount into 2 different checks to expense each to the correct month without reconciling again?', click the link below:

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