Microsoft KB Archive/267257

= Money: How to Change the Accounting Method =

Article ID: 267257

Article Last Modified on 1/27/2007

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APPLIES TO


 * Microsoft Money 2000 Business & Personal Edition
 * Microsoft Money 99 Personal & Business Edition
 * Microsoft Money 2003 Deluxe and Business Edition
 * Microsoft Money 2002 Deluxe and Business Edition
 * Microsoft Money 2001 Deluxe and Business Edition
 * Microsoft Money 2004 Small Business Edition

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This article was previously published under Q267257



SUMMARY
This article describes how to change the accounting method that Microsoft Money uses to prepare tax reports.



MORE INFORMATION
Money can use two accounting methods to prepare tax reports:
 * Accrual-basis accounting regards income in the year earned and deducts expenses in the year incurred, no matter when payment is made.
 * Cash-basis accounting recognizes expenses when a bill is paid and income when payment is received.

By default, Money prepares tax reports by using the cash-based accounting method.

Note To change your current accounting method for tax reporting purposes, you must first get IRS approval to use the other method.

To change the accounting method that Money uses to prepare tax reports:
 * 1) Start Money.
 * 2) On the Money navigation bar, click Reports, and then click Reports Gallery. (Click Reports in Money 2000 and earlier.)
 * 3) In the left pane, click Business, and then click Taxes.
 * 4) Double-click Schedule C Report.
 * 5) Click Customize at the bottom of the page.
 * 6) Click the Business tab.
 * 7) Click the Accrual option.
 * 8) Click OK.

Additional query words: w_money money2k 7.0 8.0 report taxes accrual cash Money99 Money2000 Money2001 Money2002 Money2003 Money2004

Keywords: kbhowto kbmoneyguide kbui KB267257

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