Accural Accounting - is inovice date or due date considered for P& L ?

It's good to see you here in the Community, @MR V.

I'll share some information on how the Accrual accounting method works on a financial report.

The accrual accounting method reports income and expenses for completed and pending transactions. This also counts invoices regardless of if it was paid or not. That said, the accrual accounting method will base on the invoice due date.

In addition, the accrual method gives you a complete view of your finances since you track current and future transactions. However, keep an eye on what you actually have in the bank. Since you also count unpaid transactions as income, it may seem like you have more money than you actually have.

You can check out these resources to learn more about the difference between Cash and Accrual methods:

• Choose between cash and accrual accounting methods in QuickBooks Online
• Learn common accounting terms

Feel free to come back to this post if you need more clarification about the accrual accounting method. I'll be around to provide more information.

@MR V 

@Mark_R's answer is incorrect.  When using accrual basis accounting, the invoice date is the date the transaction hits your P&L.  In your example, $200K will be reported as income in 2022 even though you have only received $100K.  Cash basis taxpayers record income only when received.  Therefore, if you were a cash-basis taxpayer, you would report $100K in income in 2022, assuming you receive payment.

The invoice due date is irrelevant from an accounting perspective