Error: "Your QuickBooks data shows you are using Cash Basis yet your tax return shows Accrual Basis" after importing
After importing your QuickBooks data into TurboTax Business, you may get the following message, or one similar to it:
Your QuickBooks data shows you are using Cash Basis yet your tax return shows Accrual Basis
There is a QuickBooks preference setting that can trigger this message. Below are instructions for how to find this:
- In your QuickBooks company file, go to Edit and then Preferences.
- Click Reports & Graphs.
- In the main Preferences window, click on the Company Preferences tab.
- Under Summary Report Basis, the select the appropriate method, accrual or cash.