Most architectural firms must use cash accounting for tax purposes. Only what you receive or paid is counted.
. The downside of cash accounting is that you don’t know how you are doing until later so it is a poor choice for management. . Accrual accounting counts income when you invoice it and expenses when you get the bill. This is what you need to manage. . MyCorbu lets you choose which you want. If you want accrual, there are Receivables and Payables tables to assist in converting Accrual to Cash. Comments are closed.
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MyCorbu
Greater Cincinnati 540 Beaumont, Fort Wright, KY VM: (859) 444-4560 |