QuickBooks Tip: Cash to Accrual Accou…
https://kaufmanrossin.com/blog/quickbooks-tip-cash-to-accrual-accounting/
Income on the accrual basis includes all bills sent to your customers, regardless of whether or not you have received payment. Income on the cash basis only includes income that your customers have paid to you. Expenses on the accrual basis include everything you owe, regardless of whether or not you have sent a payment. When you choose Cash basis, the report shows the income or expenses based on the payment date of your invoices and bills. While the Accrual basis shows the income and expenses based on when you sent your invoices or got your bills.
Income on the accrual basis includes all bills sent to your customers, regardless of whether or not you have received payment. Income on the cash basis only includes income that your customers have paid to you.
Expenses on the accrual basis include everything you owe, regardless of whether or not you have sent a payment.
When you choose Cash basis, the report shows the income or expenses based on the payment date of your invoices and bills.
While the Accrual basis shows the income and expenses based on when you sent your invoices or got your bills.
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