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mitchell-glick
Level 1

Please explain why QB online is not showing a different P&L when using the Cash vs Accrual toggle button. 2020 Accrual is including 2020 payments linked to 2019 sales?

 
3 Comments 3
AileneA
QuickBooks Team

Please explain why QB online is not showing a different P&L when using the Cash vs Accrual toggle button. 2020 Accrual is including 2020 payments linked to 2019 sales?

Hi there, @mitchell-glick

 

Thank you for reaching out to the Community. 

 

I want to share some insights about Cash vs Accrual.  When you use cash method your report counts income or expenses as though they happened when you got the paid cash. For Accrual your report shows income regardless of whether your customers have paid your invoices and expenses is when they billed but not paid yet.

 

So when the payment record in 2020 it will show in 2020 report.

 

For additional information on this, I recommend the following article: Choose between cash and accrual accounting methods in reports.  

 

Fill me in if you need anything else. I'll be more than happy to help you. Have a great day!

MC23
Level 1

Please explain why QB online is not showing a different P&L when using the Cash vs Accrual toggle button. 2020 Accrual is including 2020 payments linked to 2019 sales?

Did you ever figure this out? I'm having the same issue. 

Maybelle_S
QuickBooks Team

Please explain why QB online is not showing a different P&L when using the Cash vs Accrual toggle button. 2020 Accrual is including 2020 payments linked to 2019 sales?

Hello there, @MC23.

 

To isolate this issue, I'd recommend getting in touch with our Customer Support Team. They have the tools to check your account securely and help you work with your Profit and Loss report smoothly.

 

Here's how:

Here's how:

  1. Go to the Help menu.
  2. Choose to Talk to a human.
  3. Click Send a message.

To ensure that you'll be assisted on time, check out our support hours.

 

You may also check our help articles in case you have any other QuickBooks concerns: Help articles for QuickBooks Online.

 

Don't hesitate to drop a comment below if you have other questions. I'm always happy to help. Take care!

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