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September 27, 2023
Question

How can I change the sales tax to recognize items on accrual basis instead of cash basis?

  • September 27, 2023
  • 1 reply
  • 0 views
Under the taxes option, my sales tax is recognizing everything on a cash basis, I am not sure how that happened, how can I change it to recognize accrual basis?

1 reply

September 27, 2023

Hi there accounting-ptrpa,

 

It's important that all your transactions are correctly entered for your books to be well balanced. QuickBooks Online is a great tool able to help you keep track of sales and expenses so you can see the profit of your company. I can point you in the right direction to change these tax settings.

 

To change the accounting method for the taxes, go to the Taxes section, then Manage sales tax. Click on the Agency settings beside each tax agency to make sure they're all set to Accrual.

 

If you have any other questions, feel free to reach out here.