cash basis income: How to enter a lawsuit settlement paid over time
This “a journal entry for the 200,000 crediting other income” is why. JE’s bypass accrual vs cash.
You can use a JE to create the receivable asset but not against income. Income happens as the note is depleted. I know you want the remaining balance to show as an asset on […]
Resolution for 'cash basis income issue: 'How to enter a lawsuit settlement paid over time' available: Yes.
The cash basis income 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 cash basis income issue yourself by looking for a resolution described in the article. If it is a complex cash basis income issue or you are unable to solve the issue, you may contact us by clicking here or by using other cash basis income support options.
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