Cash basis

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

For more information about resolving issues related to Cash basis 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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Cash basis: If the bank account hasnt been reconciled, Will my “Cash Basis” profit and loss include those figures?

You are right, QBO can act quite differently and even on its own double enter transactions as can be seen in some recent questions. But once a transaction is actually “in” your books as opposed to bank feeds which are pending and For Review, then if it is income or […]

Resolution for 'Cash basis issue: 'If the bank account hasnt been reconciled, Will my “Cash Basis” profit and loss include those figures?' available: Yes.

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

For more information about resolving issues related to Cash basis in Quickbooks/QBO or to get support for the issue 'If the bank account hasnt been reconciled, Will my “Cash Basis” profit and loss include those figures?', click the link below:

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Cash basis: I have recently set up QBO and need to add some sales tax rates, but the system is set to automated sales tax so I do not get this option, and cannot turn this off.

intuit is pushing that automated sales tax on everyone

if you want manual tax rates, call them and tell them you are required to submit sales tax on a cash basis and to switch you to manual sales tax.  Auto sales tax can not do cash basis sales tax

then how you […]

Resolution for 'Cash basis issue: 'I have recently set up QBO and need to add some sales tax rates, but the system is set to automated sales tax so I do not get this option, and cannot turn this off.' available: Yes.

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

For more information about resolving issues related to Cash basis in Quickbooks/QBO or to get support for the issue 'I have recently set up QBO and need to add some sales tax rates, but the system is set to automated sales tax so I do not get this option, and cannot turn this off.', click the link below:

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Cash basis: CASH Basis – Recording a LOST check in QB from last year

you can create a deposit with the current date to offset the transaction. Just make sure to choose Accounts Receivable when creating the deposit, so you can link it to the invoice. Then, you should delete the credit memo.

 

To create a deposit, please follow these steps:

  1. Click on the Plus […]

Resolution for 'Cash basis issue: 'CASH Basis – Recording a LOST check in QB from last year' available: Yes.

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

For more information about resolving issues related to Cash basis in Quickbooks/QBO or to get support for the issue 'CASH Basis – Recording a LOST check in QB from last year', click the link below:

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Cash basis: Open Invoices

Your existing File would have been fine to use. Either the program worked or it didn’t, and you know it worked.

 

If you are a Cash Basis entity, you can use Sales Receipt with the real info on it, when you know that the prior Invoice had income and perhaps Sales […]

Resolution for 'Cash basis issue: 'Open Invoices' available: Yes.

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

For more information about resolving issues related to Cash basis in Quickbooks/QBO or to get support for the issue 'Open Invoices', click the link below:

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Cash basis: Is there a report that will breakdown the details of a deposit to my bank account and identify the portion of the deposit that is the tax paid by my customers?

I use Sales by Customer Summary report, Set your Columns by Item Type, then filter and in the Items filter, click on Remove. Set it for Cash Basis = payments in this year, no matter what is the date on the invoice. Please see my attachment.

Resolution for 'Cash basis issue: 'Is there a report that will breakdown the details of a deposit to my bank account and identify the portion of the deposit that is the tax paid by my customers?' available: Yes.

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

For more information about resolving issues related to Cash basis in Quickbooks/QBO or to get support for the issue 'Is there a report that will breakdown the details of a deposit to my bank account and identify the portion of the deposit that is the tax paid by my customers?', click the link below:

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Cash basis: Cash Basis vs. “True” Accrual Basis

The only way to make QB use true accrual accounting is to use progress invoicing, where each month during the project you invoice for that months expenses + markup. The invoice sits open until the job is paid.

 

Since the client most likely wants a single invoice for the job, that […]

Resolution for 'Cash basis issue: 'Cash Basis vs. “True” Accrual Basis' available: Yes.

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

For more information about resolving issues related to Cash basis in Quickbooks/QBO or to get support for the issue 'Cash Basis vs. “True” Accrual Basis', click the link below:

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Cash basis: sales on income statement does not match sales on tax return

Check to see if one report is on the accrual basis & the other is on […]

Resolution for 'Cash basis issue: 'sales on income statement does not match sales on tax return' available: Yes.

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

For more information about resolving issues related to Cash basis in Quickbooks/QBO or to get support for the issue 'sales on income statement does not match sales on tax return', click the link below:

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Cash basis: Error when attempting to void invoice. “We couldn’t void the transaction. Please try again.”

Yes, there is a different way to write off a bad debt.  However, if you’re using the Cash basis accounting method, voiding the invoice is the way to do it. You can check this article for more details: Write off Bad Debt.

On the other hand, we […]

Resolution for 'Cash basis issue: 'Error when attempting to void invoice. “We couldn’t void the transaction. Please try again.”' available: Yes.

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

For more information about resolving issues related to Cash basis in Quickbooks/QBO or to get support for the issue 'Error when attempting to void invoice. “We couldn’t void the transaction. Please try again.”', click the link below:

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