Essential Bookkeeping tasks for month-end closing

[@dltran3162]

I have a question on Accrual vs Cash methodology. I've been booking everything with cash method. I even report year end taxes as cash. I run my reports on QB as cash. Then, i realized in the setup icon that I didn't change from the accrual to cash method. I don't think it would have changed anything bc when I run reports, i always select cash. If i correct the setup area, i dont think anything will change?

[@MyCloudBookkeeping]

I would love to hear if there are any other items on your balance sheet you would like to explore!

[@AsiMiller-fv6qe]

Thank you...I loved it. Great video!

[@MyCloudBookkeeping]

Delighted I could help!

[@ShelleyZanon]

Thank you so much for this video- it was very helpful!

[@MyCloudBookkeeping]

Thank you for letting me know Shelley, I really appreciate it!

[@alex61-i6o]

When you say net income I assume it was before tax ? I believe the tax haven't been considered .

[@MyCloudBookkeeping]

Typically the tax would be taken into account at year end - however if you have a tax accrual you record each month then the tax would be included.