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codyag
Level 1

Account QuickReports are accrual based although Company settings is set to Cash Basis. How to correct this?

My bills are showing up in the expense and credit card accounts as the date of the bill and not the date of the payment.
6 Comments
ShiellaGraceA
QuickBooks Team

Account QuickReports are accrual based although Company settings is set to Cash Basis. How to correct this?

Thanks for posting codyag and welcome to the Community.

 

I'd like to share some information about the quick report.

 

If you pull up the expense and credit card account's quick report, bill payment isn't part of it. You'll want to open your bank's quick report to see the bill payment.

 

Though, you can use the Transaction Detail by Account report to view these transactions in one report. Let me guide you how to do this.

  1. In the left navigation panel, choose Reports and then type "Transaction Detail by Account."
  2. Change the Report period and Accounting method.
  3. Then, tick Run report. Please see attached screenshots.

Once you're finished, you can scroll through each account to locate each of your transactions.

 

You can also check this video to learn how to customize reports.

 

Please let me know if you need help with anything else. I'd be around for you.

 

 

codyag
Level 1

Account QuickReports are accrual based although Company settings is set to Cash Basis. How to correct this?

Hi Shiela, the bills themselves are showing up in my QuickReports not just bill payments but the actual bill. Is this a bug in my QBO account?
codyag
Level 1

Account QuickReports are accrual based although Company settings is set to Cash Basis. How to correct this?

 
Candice C
QuickBooks Team

Account QuickReports are accrual based although Company settings is set to Cash Basis. How to correct this?

Thanks for reaching out to the Community, @codyag

 

I can help you get back to running your business. The Bill above is showing in the Credit Card register because you've chosen to input the Credit Card as the Bill's Expense category. Typically, this is where you'd select an Expense account. When creating the Bill Payment, you'd pick the Credit Card located in the Bank/Credit Account field. By doing this, the payment would appear in the Credit Card register. I also recommend consulting with your accountant on this matter just so they can break it down in detail and to make sure that the transaction is being recorded correctly. 

 

This is a link that will provide you with additional information on Bills and Bill payments.

 

If you could allow me to get more insight on what the transaction is representing then I could determine the best way to record that transaction and others in a report of your desire.

 

Thanks for keeping in touch with us here in the Community. I'll be here waiting for your response. 

 

 

codyag
Level 1

Account QuickReports are accrual based although Company settings is set to Cash Basis. How to correct this?

Is what I am trying to accomplish is to have a credit card payment (not the expenses/charges) show up as a bill so that I can include it in my A/P until it is paid.  Would setting up another liability account to hold credit card payments until they were paid work?

Rose-A
Moderator

Account QuickReports are accrual based although Company settings is set to Cash Basis. How to correct this?

Hello, codyag.

 

Holding credit card payments isn't currently unavailable in QuickBooks Online. You can write a check or create a transfer to record the payments.

 

Here's how:

 

  1. Click the + New in the left menu and choose Check.
  2. Choose a Payee or enter the name of the credit card (Vendor Name).
  3. In the Bank Account field, choose the bank account or Credit Card from which the payment is made.
  4. Enter the check number in the Check field. If paid electronically, type EFT in that field.
  5. Enter the Category details and a payment amount.
  6. Select Save and Close.

If you'd like to create a transfer, you can visit this article for the detailed steps: Record credit card payments.

 

The following articles are good references:

 

If you have any questions or need further help with anything in QuickBooks, let me know by leaving a comment below. I'm here to share and provide additional assistance with the installation. Have a lovely day!

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