Clarification on cash basis P&L needed

Do you have a mismatch of names between the A/P credit znd debit? In a journal dntry as you would have been cautioned with a popup. A name is required for A/P entr^^^

But what I wonder is why you went through the hassle of debit/credit when a Bill for rent each month would just sit until paid?  Then when you paid in March you would have cash badis expense in March of $3000. In cash basis you cannot book expenses in Jan and Feb that were not paid then. That is accrual accounting and nothing special has to happen other than a Bill for the expense to post then even if unpaid

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@qtl wrote:

Let me please set the table. Lets assume that I have to pay $1,000 rent at the beginning of each month. Let say I can defer my rent for a few month. Each month I'll book the following transactions:

Jan 1, credit payable $1,000 debit rent $1,000

Feb 1, credit payable $1,000 debit rent $1,000

On March 1 I have cash and I can pay three months rent, so I write a check for $3,000 and book the following transaction in the checking account

Rent 1000

payable 2000

When I run my P&L on a cash basis, it only shows the rent for March $1,000. What am I doing wrong?

 

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@qtl How are you recording each month? You mentioned credit payable as if it seems you're writing a Journal type. If you're entering Vendor Bill type each month (Jan, Feb & March) and payment on March for $3,000, P&L on a Cash basis should show a $3,000 expense in March. This is on QuickBooks Desktop.