Invoice future Services
We are wedding florists so many of our bookings are into next financial year, sometimes 2 years ahead. I invoice these so as to keep track of when payments are due and record a payment on that invo...
Forum Discussion
Hi KP5
Thanks for your post. If your query relates to financial reporting, as in when the invoice is included as income for BAS/Tax purposes, this depends on your accounting method. The Cash accounting method is based on the date payment is made or received. The Accrual accounting method is based on the invoice/bill date.
This means that if your accounting method is Cash, invoices are not treated as business income and included in your BAS until payment is received. When you run financial reports like the Profit & Loss and Balance Sheet you can select to run them as either Cash or Accrual.
If I have misunderstood your issue please let me know and I'll be happy to assist further.
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