Recording advance payments receipts and having them show up in reports in the right period
ysg26
Member ✭✭
There is a thread that explains this:
https://community.quicken.com/discussion/7889690/how-to-properly-enter-a-customer-deposit-for-cash-basis-reporting
However this messes up things and one has to keep another set of accounts "outside of Quicken" and invoice the customer with a "manual" invoice. What happens after a few years you don't remember what happened and you get audited?
Quicken has a toggle under "advanced" to switch between Cash and Accrual basis. It's broken. Otherwise a deposit into a bank account should be picked up on the Cash reports as "other income"
https://community.quicken.com/discussion/7889690/how-to-properly-enter-a-customer-deposit-for-cash-basis-reporting
However this messes up things and one has to keep another set of accounts "outside of Quicken" and invoice the customer with a "manual" invoice. What happens after a few years you don't remember what happened and you get audited?
Quicken has a toggle under "advanced" to switch between Cash and Accrual basis. It's broken. Otherwise a deposit into a bank account should be picked up on the Cash reports as "other income"
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