QuickBooks 2018 Desktop New Cash-Accrual Report Toggle feature

Now, to choose the accounting basis of your QuickBooks financial reports, you had to either set a reporting preference or open the customize report option to select either cash or Accrual. With QuickBooks 2018, you can previously between cash and accrual basis reports with one-click of the new toggle button located at the top left of your reports.
What is Accrual basis?
  • An Accrual Accounting is the accounting when entering a transaction and the actual receive or pay are two different events.
  • An Accrual Basis shows income irrespective even if customers have paid invoice and expenses and also irrespective even if you have paid your all bills.
What is Cash basis?
  • It is a Bookkeeping method where you will receive a payment or bill in regard to income or expenses as occurring.
  • When you have received cash then only you can see income, and if you have paid cash then only you can expenses.
  • The cash- basis report will not include the income if you have not get the invoice for payment.

Comments

  1. Unknown10 June 2020 at 04:48


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