Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Questions about how to close your books for 2020? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 1

Do I need Accountant credentials to make revenue accruals? Also, is there a way to click on a transaction for 2020 and accrue it within 2019?

 
1 Comment
Community Champion

Do I need Accountant credentials to make revenue accruals? Also, is there a way to click on a transaction for 2020 and accrue it within 2019?

QBO is accrual accounting. NOt much else you need to do other than if you wish to use billing and invoicing (vendor and customer management may require Essentials or higher)

 

Unless you close your books as of 12/31/19you can enter dates for any transaction going back as far as the software allows (doubt you can enter the original Columbus Day (10/12/1492) but I could be surprised.

 

By entering a sale without payment it is in effect accrued revenue as it is income claimed today under accrual rules. Invoices accomplish that.

Need to get in touch?

Contact us