Quickbooks Learn & Support Online | QBO.Support

accrual: 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!

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 'accrual 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.

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

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

Details

accrual: Cant change from Accrual to Cash?

That is a reporting preference. Go to gear wheel >account & settings or just do it on the report itself. You will see that option at the top of the report.

Resolution for 'accrual issue: 'Cant change from Accrual to Cash?' available: Yes.

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

For more information about resolving issues related to accrual in Quickbooks/QBO or to get support for the issue 'Cant change from Accrual to Cash?', click the link below:

Details

accrual: 1099 Cash vs Accrual

Yes, it should be payments actually made. However, if you’re looking at the detail reports, you’ll see bill details, but using the payment date.

Resolution for 'accrual issue: '1099 Cash vs Accrual' available: Yes.

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

For more information about resolving issues related to accrual in Quickbooks/QBO or to get support for the issue '1099 Cash vs Accrual', click the link below:

Details

accrual: What is the formula for the difference’s in the cash basis p&l gross income and the accrual basis gross income?

There’s no formula. The data is processed transaction by transaction to arrive at the totals you see on summary reports. You can Quickzoom on the summary numbers on the balance sheet to see what makes up the balances. Or run a detailed balance sheet report and change it to cash basis.

Resolution for 'accrual issue: 'What is the formula for the difference’s in the cash basis p&l gross income and the accrual basis gross income?' available: Yes.

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

For more information about resolving issues related to accrual in Quickbooks/QBO or to get support for the issue 'What is the formula for the difference’s in the cash basis p&l gross income and the accrual basis gross income?', click the link below:

Details

accrual: accrual accounting vs cash accounting method how to pick?

go to Edit > Preferences > Reports > Company Preferences

Resolution for 'accrual issue: 'accrual accounting vs cash accounting method how to pick?' available: Yes.

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

For more information about resolving issues related to accrual in Quickbooks/QBO or to get support for the issue 'accrual accounting vs cash accounting method how to pick?', click the link below:

Details