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    Get a total for sales for 2009? It isn't counting the tickets I closed in 2010 but actually happened in 09... help?

  • #2
    First off, let me caveat by saying you should speak to an accountant about what the actual rules are, however, I think (and that's the key word here), that if monies were received in 2010 for a 2009 ticket, then those monies are considered part of 2010's business income, not 2009's. Here's a for example: Ticket sale was done in Dec 2009 but client didn't pay. It takes you until the following May to get the payment, but by then your taxes are already done. Do you keep amending your return to accomodate monies collected in 2010?

    So by 123Pet only including tickets that were closed in 2009 for total sales I believe may be correct.

    Warning! I am NOT an accountant, so again, check with one. I'm just stating my opinion on it.

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    • #3
      I cannot speak for the mechanics of the software program, but even in Quickbooks, when you pull a report for income statement or balance sheet, there are 2 bases:

      Cash accounting
      Accrual accounting

      You make a choice between the 2, every business does.

      In simplest general terms, cash basis goes by when the funds are received in hand. Accrual accounts for bills received yet not paid yet but also expected income billed out but not yet received.

      You must be consistent with your choice in how you file taxes.

      I leave the rest to an accountant etc to explain to you and what you need to do.

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      • #4
        I'm on a cash basis, so everything I closed (it's closed when I received payment) gets posted in the proper year. If I didn't close out things because I forgot, or something like that, I go in and edit the tickets and change the close date.

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        • #5
          Originally posted by Briarpatch View Post
          I'm on a cash basis, so everything I closed (it's closed when I received payment) gets posted in the proper year. If I didn't close out things because I forgot, or something like that, I go in and edit the tickets and change the close date.
          If you forget, that would be the thing to do. To close out tickets because you have accounts receivable and grooming services performed in 2009 are not paid until 2010 may mess up accounting. I don't have accounts receivable, as all of my customers pay when service is rendered. For grooming operations that maintain accounts for customers, it's much better to consult a bookkeeper or accountant to make sure you are using the correct accounting convention.

          123Pet is not allowing the OP to count 2010 income that was earned in 2099 because it is programmed that way. The program is assuming cash, check, or credit card payment is received at the time of grooming.
          "With God's help, all things are possible!"
          Laura Lee Ray
          I am kats_melody on eGroomer. Follow my Twitter tweets - @ZOOMGROOM on Twitter.com

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          • #6
            Originally posted by Doc View Post
            First off, let me caveat by saying you should speak to an accountant about what the actual rules are, however, I think (and that's the key word here), that if monies were received in 2010 for a 2009 ticket, then those monies are considered part of 2010's business income, not 2009's. Here's a for example: Ticket sale was done in Dec 2009 but client didn't pay. It takes you until the following May to get the payment, but by then your taxes are already done. Do you keep amending your return to accomodate monies collected in 2010?

            So by 123Pet only including tickets that were closed in 2009 for total sales I believe may be correct.

            Warning! I am NOT an accountant, so again, check with one. I'm just stating my opinion on it.

            I received the funds in 2009. That is not the issue.

            Comment

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