Previously, to select the accounting basis of your QuickBooks financial reports, you had to either set a reporting preference or open the customize report option to select either Cash or Accrual. With QuickBooks 2018, you can now switch between cash and accrual basis reports with one-click of the new toggle button located at the top left of your reports.
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By default, all QuickBooks detail reports are computed and displayed on an accrual basis, but summary reports are displayed according to the settings configured within the Reports & Graphs Company Preferences.
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Prior to QuickBooks 2018, you either had to change this report preference or manually customize your reports from the Customize Report tab.
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Now, changing your accounting basis is easier than ever. Rather than open the Customize Report option and select the Accounting Basis from the Display tab, you simply change basis with a click of the new toggle button.
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QuickBooks 2018 Desktop gives you the accounting information you want in the reporting basis you need at the click of a button.
Editor's Note: The information and screen shots appearing in this article were taken from a pre-release version. There could be differences from what's included here and what exists within the initial or subsequent releases of the software.
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