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Some expenses are showing in the wrong quarter they have been entered correctly . Is there something in the background that needs amending?

 
2 REPLIES 2
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Re: Some expenses are showing in the wrong quarter they have been entered correctly . Is there something in the background that needs amending?

entered correctly means what exactly?

 

the report basis is critical in this area, a report in cash basis will only show expenses actually paid in the report time period and not an expense listed on an unpaid bill.

 

accrual basis shows the expense as of the day it is listed on a bill, paid or unpaid, and of course any actual expense paid immediately

 

the same concept above is true for income

QuickBooks Team

Re: Some expenses are showing in the wrong quarter they have been entered correctly . Is there so...

Hey warrent988,

 

As above, the date the transaction hits the VAT return will be based on your accounting scheme, which you can view or change by going to Taxes > Edit VAT > Settings.

 

For the cash based method, the transaction will hit the return based on the payment date, wheras the standard method will be based on the transaction date.

 

Thanks