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Why do 2022 invoices that were paid in 2023 show up in 2022 tax summary?
BChadderdon
I created an invoice in December of 2022. I "received payment" and have an entry for PMT in January of 2023, but the full invoice amount shows up as 2022 income. If I manually move the invoice date to 2023, it moves it out of 2022, but that also messes up my accounting of when I invoiced and was paid for the labor.
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The Real Dude
Most likely Cash vs Accrual accounting setting.
https://www.quicken.com/support/how-create-business-reports
Quicken automatically sets to cash basis every business report that can be set to accrual or cash basis. To change this setting to accrual basis, click Customize. Then click the Advanced tab and select Accrual as the report basis. (If you run your business using accrual-basis bookkeeping, you want your income to show up when you issue invoices. This report option includes income for which you've invoiced, as well as income that you've received.)
The Real Dude
Quicken automatically sets to cash basis every business report that can be set to accrual or cash basis. To change this setting to accrual basis, click Customize. Then click the Advanced tab and select Accrual as the report basis. (If you run your business using accrual-basis bookkeeping, you want your income to show up when you issue invoices. This report option includes income for which you've invoiced, as well as income that you've received.)
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