Hello,
I already closed September 2023 using the accrual method a week ago. I have just received an invoice dated 09/22/23.
Do I enter that invoice in October?
Thanks
Solved! Go to Solution.
I've got your back to help handle the invoice dated 09/22/23 that you received after closing September 2023 using the accrual method, @Frieaza.
Since the invoice is dated in September, it would be appropriate to include it in your October accounting records since the previous month is already closed. The accrual method recognizes expenses and revenues when they are incurred, regardless of when the payment is made or received. Therefore, it's essential to reflect on the financial transactions in the period they occurred accurately.
Moreover, I'll be sharing the following articles to help manage your invoices and their corresponding payments in QBO:
If you have any further questions or need any additional assistance, please don't hesitate to reach out to me. It's my priority to address any QuickBooks concern you may have.
I've got your back to help handle the invoice dated 09/22/23 that you received after closing September 2023 using the accrual method, @Frieaza.
Since the invoice is dated in September, it would be appropriate to include it in your October accounting records since the previous month is already closed. The accrual method recognizes expenses and revenues when they are incurred, regardless of when the payment is made or received. Therefore, it's essential to reflect on the financial transactions in the period they occurred accurately.
Moreover, I'll be sharing the following articles to help manage your invoices and their corresponding payments in QBO:
If you have any further questions or need any additional assistance, please don't hesitate to reach out to me. It's my priority to address any QuickBooks concern you may have.
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