Why did my accountant opt for accrual method?
I am a one-person LLC (C-corp) providing services, with average revenues $150-$200K per year. Have few vendors paid on an account basis; no inventory at all. Why would was I set up on accrual accounting method if I fall under the gross-receipts threshold and qualify for cash method in all other ways. Isn't cash method simpler?
This Question Has Not Yet Been Answered.
Interested in more Bookkeeping & Write-up Questions?
- Due To Due From
- there is an over accrual that is still sitting in the liability for three years now.. if i want to reverse should I use relevant expense account?
- What is kiting a check ?
- What is an accounts receivable aging schedule ?
- I live in Georgia , where do I file Employer's Quarterly Federal Tax Return 941 ?
