We generally manage our business on an accrual basis, but we pay taxes within the US on a cash basis. As a cash basis taxpayer, we only report income and deductions in the year that they are actually paid or received. Cash basis taxpayers cannot report receivables as income, nor deduct promissory notes as payments.
I saw a post from almost 20 years go that someone created custom reporting for this. I'm hoping someone has a set of sample reports or an extension for Dynamics 365 Business Central we could leverage and learn from.