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You can select which accounting method Quicken uses to present data in the applicable reports, Business tab snapshots, and the Tax Planner.
- Choose Reports menu > Reports & Graphs Center.
- Click Preferences.
- In the Select preference type list, select Reports and Graphs.
- In the Select preferences area on the right, select the appropriate option (which will apply to only the applicable business reports):
- Clear the Cash-basis reporting if applicable check box checkbox to have Quicken automatically set to accrual basis every one of the applicable business reports.
- Select the Cash-basis reporting if applicable check box checkbox to have Quicken automatically set to cash basis every one of the applicable business reports.
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Your bookkeeping method determines how you report income and expenses on tax forms. You must select a bookkeeping method when you file the first tax return for your business. After that, if you want to change your bookkeeping method, you need permission from the IRS. For more information, talk to your tax professional.
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The following terms will be different in the Canadian releases of Quicken. Canada: "Cheque" / United States: "Check" |
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