Dear Sir,
Could you explain what it meant by quarterly in advance in arrears in relation to property income
thanks
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accruals vs cash basis
If the rental is quarterly in advance for say the quarter to 31 March 2020, then the rental should be paid to the property owner by 1 January 2020, whereas in arrears by 31 March 2020
what is the difference between the accrual basis and the cash basis in property income?
cash basis is a record of actual money in and actual expenses paid during the accounting period of the property
accruals basis is not
Read chapter 3 of the TX manual
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