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Attributing Receipts and Expenses to Proper Period

I'm the treasurer for a nonprofit club, using QB Pro 2002. Our books and IRS 990EZ return are cash basis. Membership dues are due on the first day of our fiscal year, but are not entered in QB until they are received. The amount received before year's end varies from year-to-year, so a cash-basis year-end report doesn't necessarily reflect how we did that year. How can these receipts (and other receipts and expenses) be handled so that QB accrual-basis reports show earned income and expenses incurred for the year, but QB cash-basis reports provide correct data for our cash-basis IRS return? Any advice would be appreciated.

Bill Bickner

Reply to
wbickner
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Might help if you listed the problems you are seeing when you run the cash basis report in QB.

Reply to
Allan Martin

Example: Dues must be paid by the beginning of our fiscal year on 10/1, and must accrue to the new year, in which they are earned. The previous treasurer handled early payments by fudging receipt dates, and didn't use sales receipts or invoices. I'm looking for a better way to handle this. If I enter an invoice dated 9/20, with a due date of 10/1, for example, the dues accrue on 9/20, not on 10/1. I've considering entering invoices dated 10/1 or later (but not printing or sending them), so dues accrue to the proper year (QB allows a payment date earlier than the invoice date, but keeps the invoice date as the accrual date). That would allow preservation of the receipt and deposit dates and accurate cash-basis reports. Again, any advice would be appreciated.

Reply to
wbickner

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