How do I change accounting in QBSE from cash to accrual OR how to I mark an invoice payment to an earlier date to account for this? How do I tie an invoice to a payment?

olivia6 · ‎March 08, 2020

My last accounting system used accrual accounting, but it appears that QuickBooks Self-Employed uses cash-based. It doesn't really matter to me which I use, whichever is easiest to track (in this case, cash-based now). However, I have an invoice that is dated 2018 that was paid in 2019. QBSE is estimating my 2019 taxes including that payment, but I already paid taxes on it last year. How do I account for this? Also, how do I link invoices to their payments in QBSE?

MaryAnn_E · ‎March 08, 2020

Hi @olivia6,

QuickBooks Self Employed is set up for a cash-based system. You have to manually enter each expense and payment you receive.

Here's how:

Go to the Transactions menu.
Click the Add transaction.
Fill in the necessary fields.
Click Save once finish.

Also, I recommend consulting with your accountant to know best on how to record this payment. This way, you’ll be more accurate with your books.

Let me share the article about manually adding transactions in QuickBooks Self-Employed for future reference.

Please post again if you have more concerns. I'll be glad to assist you.

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How do I change accounting in QBSE from cash to accrual OR how to I mark an invoice payment to an earlier date to account for this? How do I tie an invoice to a payment?

How do I change accounting in QBSE from cash to accrual OR how to I mark an invoice payment to an earlier date to account for this? How do I tie an invoice to a payment?

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