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Established Community Backer ***

Re: Does Your Business Use Cash or Accrual Method Accounting?

"Just to be semantically accurate, If you use QB you use accrual accounting"

You can select in QBs whether you are on cash or accrual basis. 

 

@JamesOng We use Cash Basis accounting for our books and taxes.  I think its a lot more accurate, we only report what was paid to us or paid out in the current year. Also easier to keep track of things, just my opinion, 

I don't think it really has anything to do with being strapped for money flow or not. Its just a different method to file. Smiley Happy