Do u use cash accounting or accrual? Why?
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The fact that there are so many differing answers here, makes me happy. I’m not the only one in this situation. We do cash for simplicity sake and my CPA is fine with it.
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I think it stems from the fact that it's different for service based vs inventory based businesses. Before 2018 if you were an inventory based business, you *had* to use accrual. Now, you still do if you're over 25M in revenue.
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