Skip to main content
February 9, 2022
Question

Can I switch from accrual to cash basis when looking at my report for profit and loss? My accountant and I have different numbers for total sales.

  • February 9, 2022
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

February 9, 2022

Thanks for choosing QuickBooks Online, @bj27

 

I'm here to share some information in handling your accounting preference.

 

Yes, you can switch to Cash basis in QuickBooks Online without any issues. I'm happy to show you the steps below. 

 

There are two ways to do this. You can either change the basis in the Account and settings page or within a specific report. Here's how to do it:

 

  1. Click the gear icon, then select Account and settings.
  2. Go to the Advanced tab.
  3. Expand the Accounting section.
  4. Select Cash from the Accounting method drop-down menu. 
  5. Click Save, then Done

On the reports, simply select Cash under the Accounting method section. 

 

Changing the basis will only have an impact on the reporting of transactions. Just make sure you seek the IRS's permission first (through your tax accountant). They demand that you employ the same accounting procedure year after year. 

 

You can check this article if you need references about changing the accounting methods: Choose between cash and accrual accounting methods in reports

 

Ready to export your reports to Excel for your tax accountant? This article can guide you with the processes: Export your reports to Excel from QuickBooks Online.

 

Do you need help with your company settings or do you need a specific report to send to your tax accountant? Please let me know and I'll help you complete your tasks​​​​​​​.