A method of bookkeeping in which you regard income or expenses as occurringat the time you actually receive a payment or pay a bill. A cash-basis reportshows income only if you have received it, and expenses only if you have paidthem. For example, if you have not yet received a payment for an invoice, acash-basis report on your sales will not include the amount of the invoice.
In QuickBooks, you can put all summary reports on a cash basis by selecting Cash in the Reports & Graphs Preferences window. (Summaryreports summarize groups of transactions; they have the word"Summary" in their titles.) On the other hand, reports that listindividual transactions always appear as accrual basis reports when you createthem from the Reports menu. To change a transaction report to cash basis,click Customize Report in the report window and selectCash in the Report Basis section.
Reports that listindividual transactions always appear as accrual basis reports when you createthem from the Reports menu. To change a transaction report to cash basis,click Customize Report in the report window and selectCash in the Report Basis section.
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