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 pa