[Fredslist] cash accounting question

[Katalin Goencz]

There is one question that is still bugging me regarding booking payments
from last year billing.  I use cash accounting, so I understand that  checks
I receive this year for services provided/billed last year, needs to be
applied to last year (the year it was billed) income.  This seems to make
sense for January. 

 

My question:  is there a threshold of date on this?  For example, I did work
in December 2012, but the client does not pay me for it until
February/March of 2013.   What year do I book that income? 

 

This is just frustrating because I need to complete the OS-114 CT tax form.
What would be my total income?  The one billed in 2012?  Or the total billed
actual payments received to date? 

 

Please advise,

 

 

Katalin Goencz CIC
Medical Reimbursement Specialist
MedBillsAssist  a division of O&K Consulting

1127 High Ridge Rd # 261

Stamford, CT 06905
Phone: 203-569-7610 

Cell: 203.570.3904
Fax: 203.973.0367
katalin at medbillsassist.com
http://www.medbillsassist.com/

 

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