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?
- Write accrual journal entry in January
- Reverse accrual journal entry in February
GO to Company > Make General Journal Entries
- A/R (debit) — $100
- Revenue (credit) — $100
- Memo Revenue accrual
- Revenue (debit) — $100
- A/R (credit) — $100
- Memo: Reversal of revenue accrual replaced by actual customer invoice ref# ??