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tax question
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<blockquote data-quote="DaisyFace" data-source="post: 572266" data-attributes="member: 6546"><p>There are two different accounting methods for small business - cash and accrual. If you are operating on a "cash" basis - you count the income when it is <em>actually received</em> and bills as they are actually paid. If you are operating on an "accrual" basis - you count the income when it is <em>billed</em> and the bills when you <em>receive</em> them.</p><p></p><p>Hope this helps!</p></blockquote><p></p>
[QUOTE="DaisyFace, post: 572266, member: 6546"] There are two different accounting methods for small business - cash and accrual. If you are operating on a "cash" basis - you count the income when it is [I]actually received[/I] and bills as they are actually paid. If you are operating on an "accrual" basis - you count the income when it is [I]billed[/I] and the bills when you [I]receive[/I] them. Hope this helps! [/QUOTE]
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