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Cash-basis or accrual-basis accounting are the most common methods for keeping track of revenue and expenses. Yet, depending on your business model, one approach may be preferable.
The Sharp XE-A207 cash register enables you to integrate transactions with QuickBooks Pro desktop accounting software. It allows for four programmable tax zones and 2,500 price lookups, and ...
Cash basis accounting is a method of recording financial transactions when cash is received or paid out. This method is typically used by small businesses and individuals because it’s simpler to ...
In the United States, you can use the cash basis method of accounting if your business makes less than $25 million per year in sales, and does not sell merchandise directly to customers.
While the majority of small businesses use cash-basis accounting, the IRS may prevent you from switching to this method based on the nature and setup of your business. For instance, companies that ...
Certain personal service corporations are also permitted to use the cash basis method of accounting. Further, the IRS has specifically determined that the prohibition on C corporations using the ...
He explains the difference between accrual basis and cash basis accounting, and what's best for small businesses. TurboTax Live experts look out for you.