Hello Greg_C!
Thanks for reaching out to us. Let me explain how the "Cash Basis" works.
The Cash method of accounting shows all the money when it moves in and out of your business. This includes the partial payments from the invoices. Although the invoice is still open or not fully paid, the partial payment will still be included on the cash basis of P&L since you received the money already.
You'll want to check this article: Differentiate Cash and Accrual basis. This will help you to fully understand the difference between the two accounting methods.
In addition, please check these links if you need more financial reports:
Leave a comment below if you have other concerns. I'll be here!
