A bookkeeping method where you regard income or expenses as occurringat the time you ship a product, render a service, or receive a purchase. Underthis method, the time when you enter a transaction and the time when youactually pay or receive cash may be two separate events.
In QuickBooks, an accrual basis report shows income regardless of whetherall your customers have paid your invoices, and expenses regardless of whether you have paidall your bills. To put all your reports on an accrual basis, in the Preferences window select Reports and Graphs, and on the Company Preferences tab click Accrual.
In QuickBooks, an accrual basis report shows income regardless of whetherall your customers have paid your invoices, and expenses regardless of whether you have paidall your bills.
See also