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megorah
New Member

I have a multi payment system for clients. If one of my client projects falls over the end of the year, beginning of the next, am I able to report the full project income at its completion, or do I have to report each payment in its individual year?

 
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1 Reply
WillK
Intuit Alumni

I have a multi payment system for clients. If one of my client projects falls over the end of the year, beginning of the next, am I able to report the full project income at its completion, or do I have to report each payment in its individual year?

It depends if you are cash basis accounting or accrual accounting. 

Cash basis accounting is when you report the income when you receive it: https://ttlc.intuit.com/replies/3300094

Accrual accounting is when you report the income in the year you earned it, not when you receive it: https://ttlc.intuit.com/replies/3301956

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