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T
TK71
April 1, 2025
Question

I need to change from cash to accrual accounting as of 12/31/24.

  • April 1, 2025
  • 1 reply
  • 0 views

Can I assure that the historical information stays in cash accounting through a set date and only from that date further it changes to accrual?

1 reply

C
Chrea
April 1, 2025

You should close the book first.

Close your books in QuickBooks Online

 

T
TK71Author
April 1, 2025

Thanks for the suggestion.  I wish it was that easy.  I won't be able to close the books until the final tax adjustments are made, which will be at least another month if not longer. I need to adjust to accrual back to January and can't wait any longer.

Rainflurry
Rainflurry
April 1, 2025

@TK71 

 

You can switch back and forth between cash and accrual anytime.  Changing your accounting method only changes the default method used for reports, it doesn't make permanent changes to the underlying data.  

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