Invoices not on profit & loss statemetn

freelance · ‎January 08, 2021

I'm using QBDT 2019 for Mac, cash basis for the company & I've verified that the profit & loss is set to cash basis, however, when I run the p&l for 2020 (having verified the dates are set from 1/1/20-12/31/20) an invoice dated 12/17/20 doesn't show on the cash basis report but does show on the accrual basis report.

I've verified & rebuilt the file and am running the most recent version (fully updated).

I need to know how to rectify this so all invoices are hitting the p&l using cash basis reporting.

Thanks for you help!

Adrian_A · ‎January 08, 2021

Let's review the date of payment, freelance.

In QuickBooks, a Cash basis will regard the transactions at the time you receive the payment.

We'll have to make sure that the payment is dated correctly. You can do that by going to the customer's information and then review the payment date.

I've also added this article for more information between Cash and Accrual: Differentiate Cash and Accrual basis.

I'll be around if you need help. Take care!

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Invoices not on profit & loss statemetn

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