Common Accounting Mistakes: Government Edition - Issue #1: Am I Accrual or Cash Basis?
SMBAccountant
JULY 14, 2020
If the information entered into QuickBooks doesn’t accurately provide all the data needed to determine the timing, the accrual reports will not be accurate. Additionally, accrual accounting often requires manual journal entries to properly account for depreciation, payroll and vacation accrual, prepaid expenses, and several others.
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