> On Feb 12, 2019, at 11:47 AM, Keith Bellairs wrote:
>
> Thanks, Derek. The issue has been around for years, I guess.
>
> Looking at invoices, for a cash basis user the invoice should get posted to
> payables when received and the payable is reversed to expense on the date
> the payment is act
Thanks, Derek. The issue has been around for years, I guess.
Looking at invoices, for a cash basis user the invoice should get posted to
payables when received and the payable is reversed to expense on the date
the payment is actually made.
For an accrual basis user the expense could be posted im
Keith Bellairs writes:
> My property tax is payable in 4 installments -- August, November, February,
> and May. I have tried to set this up with my town as the vendor and 4
> payments.
>
> When I ran my income statement for last year, I see that the future
> liabilities have been posted with the
You should speak with a local CPA, but I’d posit that if you receive a bill for
the full amount, then the taxes are all for one year and belong in that year.
You are simply being allowed to pay the bill in installments but it is
otherwise fully owed.
There might be a hitch if the bill received
On Sun, 10 Feb 2019 10:10:52 -0800
"Stephen M. Butler" wrote:
> On 2/10/19 9:49 AM, Keith Bellairs wrote:
> > My property tax is payable in 4 installments -- August, November,
> > February, and May. I have tried to set this up with my town as the
> > vendor and 4 payments.
> >
> > When I ran my i
On 2/10/19 9:49 AM, Keith Bellairs wrote:
> My property tax is payable in 4 installments -- August, November, February,
> and May. I have tried to set this up with my town as the vendor and 4
> payments.
>
> When I ran my income statement for last year, I see that the future
> liabilities have been
My property tax is payable in 4 installments -- August, November, February,
and May. I have tried to set this up with my town as the vendor and 4
payments.
When I ran my income statement for last year, I see that the future
liabilities have been posted with the date that the bill was posted, not
t