Could Accounting Software QBO (QuickBooks Online) has provided the two sets of Accounting Methods to meet the clients accounting transactions. If a business follows Cash Accounting Method they can choose the Cash others can go with Accrual Accounting Method. Using the Company Settings we can set the Accounting Method.
|Cash or Accrual Accounting Method in QuickBooks Online|
Accrual Accounting Method is suitable for those who record the transaction whenever a bill is raised. And Cash Accounting Method is suitable for those who record the transaction only when money or moneys worth received.
In order to add the Accounting Method in QuickBooks Online Accounting Software we have to login to Company to your company through Secured Login screen.
- From the Company User Interface just click on Tools and Settings Button.
- In the drop down menu click on Company Setting menu under Settings.
- And click on the Edit button in the Accounting Method row.
- Click on Accrual (or Cash) option and you will see the drowdown list which contains Cash and Accrual select the option which suites for your business.
And click on Save button and after that Click on Done button at bottom right corner to save the changes to your company. Now the Accounting Method will be used in the Books of Accounts in the QuickBooks Online. And this is how to set Accounting Method in QuickBooks Online Accounting Software.