Help w/ Accrual P&L

Question:

I need an accrual-based January P&L report to pick up revenue that was invoiced in February. How do I get that revenue to show up?  

Answer:

  • Write accrual journal entry in January
  • Reverse accrual journal entry in February

GO to Company > Make General Journal Entries

In January:

  • A/R (debit) — $100
  • Revenue (credit)  — $100
  • Memo Revenue accrual

In February:

  • Revenue (debit) — $100
  • A/R (credit) — $100
  • Memo: Reversal of revenue accrual replaced by actual customer invoice ref# ??