Is there a way to run a report showing the expense accounts that make up AP? I have a client that is accrual basis for books and cash basis for tax. I'd prefer to maintain their accrual books and convert to cash for the tax return. I just can't find a way to easily determine what expense accounts the AP is hitting. If I try to run the AP detail and turn on account splits it gives me a zero report.
Thanks.
I will give all the other posters a chance to answer this one.
QB has the option to run the reports either in accrual or cash basis. Just have your client run his reports on a cash basis for you to do the tax return. No need to take any time with this! HTH N Owen
Modify report button -report basis checkbox "cash or accrual"
That just makes AP go away, it doesn't tell me the breakdown. I am taking the accrual book balances and putting them into my trial balance software as I want to maintain the accrual balances for the financial statement. I need to manually reverse the accruals via tax journal entries. Just using QuickBooks' cash basis reports for tax doesn't really work as there are some accrual accounts QB can't handle that still show up on a cash report.
Thanks.
That just makes AP go away, it doesn't tell me the breakdown. I am taking the accrual book balances and putting them into my trial balance software as I want to maintain the accrual balances for the financial statement. I need to manually reverse the accruals via tax journal entries. Just using QuickBooks' cash basis reports for tax doesn't really work as there are some accrual accounts QB can't handle that still show up on a cash report.
Print (Export to Excel) the trial from QB using both cash basis and accrual then extrapolate the difference.
Thanks.
Something to consider: QB Premier Accountant edition includes has a working trial balance feature and Financial statement designer so you wouldn't have this problem.
Michelle L. Long, CPA, MBA Author of: Successful QuickBooks Consulting: The Complete Guide to Starting and Growing a QuickBooks Consulting Business
Something to consider: QB Premier Accountant edition includes has a working trial balance feature and Financial statement designer so you wouldn't have this problem.
Professional dedicated trial balance solutions run circles around the QB solution.
Michelle L. Long, CPA, MBA Author of: Successful QuickBooks Consulting: The Complete Guide to Starting and Growing a QuickBooks Consulting Business
Did you try the Unpaid Bills Detail report...modify it to show "split" to see the expense account impacted. If there are multiple accounts it will merely say "split". You will need to drill down on the actual transaction to see which accounts are used.
No, that didn't even show me the splits. I drilled down on the balance sheet account and filtered for open invoices and changed the date to report date but it shows "split." I can't believe they have no way of displaying the splits.
No, that didn't even show me the splits. I drilled down on the balance sheet account and filtered for open invoices and changed the date to report date but it shows "split." I can't believe they have no way of displaying the splits.
That's when you will need to open up the original transaction to see the details behind the split. Certainly a short coming of QB.
If I do a quickreport for the "accounts payable" account, I get a report with all the splits showing which expense account was used for the original bill.
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