New Financial Year - Income

Hi LucyAB 

Thanks for your post. Can you please clarify if you are running the Profit and Loss cash report (Accounts tab>>Small Business Entity) or the Profit and Loss Statement (Accounts tab>>Profit and Loss)?

The Profit and Loss Statement is the accrual P&L report and is based on the invoice date, not payment date. So if an invoice was recorded in June and paid in July, it would be reported in the June Profit and Loss Statement. The Profit and Loss [Cash} is the cash P&L report and reports based on payment date. So if an invoice is paid in July it will be reported in July regardless of the invoice date.

Please let me know how you go with this.

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