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Can I import old invoices into quickbooks using todays date so that I don't have to pay late state tax fees?

Ok so late last year I opened a consulting business in Washington state. It started off as a hobby but last quarter we picked up a few big clients and are billing out $20-30k a month.

 

Having said that, total sales we had in the quarter prior to the last one was about $30k total most of which was paid out to contractors. At the time I was also using a different accounting app.

 

My question is: Can I import the $30k worth of transactions in previous quarters into current quarter so that I don't have to pay late state tax fees on them? I also reported no revenue generated in Q4 of 2017 but there was actually about $5k in revenue.

 

How do I do this right and clean it up? Any advice would be much appreciated. 

2 Comments
Established Community Backer ***

Re: Can I import old invoices into quickbooks using todays date so that I don't have to pay late state tax fees?

I doubt anyone here is going to tell you how to handle booking historical income, to avoid any penalties

On top of that, we are not all conversant with WA tax laws, so the best thing would be to find a local tax accountant and sit down with him.

Established Community Backer ***

Re: Can I import old invoices into quickbooks using todays date so that I don't have to pay late state tax fees?

I concur. Anything constructively received in 2018 must be reported in 2018. Your only salvation might be if you are cash basis reporting and the bulk of this is comprised of unpaid accounts receivable. The IRS, when open for business, is pretty strict. If you receive a check in December, delaying deposit until January does not change the date of income from year when delivered to you.

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