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How do I record a payment that was received for a previous year invoice, being that the client didn't use QB last year?

A payment was received in January for an invoice from Dec 15. How do I record this to reflect the money for 2015 income? My client didn't start using QB prior to Jan 2016.  All sales/invoice info was in Square. We're not entering in all the previous FY info into QB - so there is no 2015 data in the system, just starting fresh for 2016. Using QBO Essentials. 

Updated info: The client was cash based last year, and has switched to accrual this year.

Thanks for your help!

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Best answer 10-15-2018

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Established Community Backer ***

If the client files his taxes as accrual based, it is alr...

If the client files his taxes as accrual based, it is already counted as 2015 income, since accrual based account counts income as of the invoice date

but

if the client files his taxes as cash based, then that payment is 2016 income, cash based reports income on the date received

3 Comments
Established Community Backer ***

If the client files his taxes as accrual based, it is alr...

If the client files his taxes as accrual based, it is already counted as 2015 income, since accrual based account counts income as of the invoice date

but

if the client files his taxes as cash based, then that payment is 2016 income, cash based reports income on the date received

Not applicable

The client was cash based last year, and has switched to...

The client was cash based last year, and has switched to accrual this year.  My apologies for forgetting to add that before.  Since we don't have any data in QB for 2015 I'm not sure how to record it in QB to avoid it just "hanging out" unassigned.
Established Community Backer ***

Since last years cash based income tax was filed, that is...

Since last years cash based income tax was filed, that is over unless you really want to file an amended income tax return too.  Book it as income this year is my advice, but check with a tax cpa too