Customer invoice from 2018 and was recorded as a sale so part of P&L. Was not paid for until 2019 but 2018 was not QB Online so invioce is not in system. How to post?
Customer invoice from 2018 and was recorded as a sale so part of P&L. Was not paid for until 2019 but 2018 was not QB Online so invioce is not in system. How to post?
Customer invoice from 2018 and was recorded as a sale so part of P&L. Was not paid for until 2019 but 2018 was not QB Online so invioce is not in system. How to post?
it really depends on how you file income tax.
If you are a cash basis tax payer, then the invoice can be entered with this years date, 1/1/xx
If you are an accrual based tax payer, then the invoice needs to be entered with last years date, 12/31/xx
Customer invoice from 2018 and was recorded as a sale so part of P&L. Was not paid for until 2019 but 2018 was not QB Online so invioce is not in system. How to post?
Thanks, i'm cash based. I guess the issue I have is I claimed the profit on prior year taxes and don't want to get double taxed by entering the invoice again for the following year.
Customer invoice from 2018 and was recorded as a sale so part of P&L. Was not paid for until 2019 but 2018 was not QB Online so invioce is not in system. How to post?
Which year?
if you are cash based and the invoice was paid in 2019, then it reports in 2019.
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