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

@lynda and @jessbru99568, you got right to the deeper purpose of the question - what cash and accrual method mean when it comes to reporting taxes. 

 

Another point, I was at a workshop a few weeks ago where were asked to plan our next 6 months of business based on cash/accrual report data side by side. Then the workshop leader asked us to consider the same question given two separate scenarios - one where we received all our A/R and another where no one paid their outstanding invoices.

 

Talk about insight ><.