Hi Kim
Thanks for your time and response.
@KimMcCPA wrote:A: It appears that the difference between cash and accrual for revenue is Accounts receivable... and I would think that you don't have any Accounts receivable because all subscriptions are received 12 months in advance (perhaps someone at QB/Intuit who knows the exact calculation behind the Cash vs Accrual revenue will chime in to verify this).
I think that Account recievable is not the difference between cash basis or accrual basis of accounting. Reason is Even my sales reciepts where there is no A/R involved, I am deferring its income in future but cash is already recieved in books. So If p&l report on cash basis is asked for then it should pick customer and receipts data (not accrual income). While In accrual basis, it should pick income accrual data. I do have A/R for 15 days but it doesnt matter. QB guys or someone experienced with similar situation is needed to guide.
Thanks again for your time.
Regards,
Navneet
