Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Does Clients & Profits use the accrual method or cash-basis method of accounting for sales tax reports?

April 26, 2017Accounting accrual cash-basis clients method profits reports

0

Posted

Does Clients & Profits use the accrual method or cash-basis method of accounting for sales tax reports?

1 Answer

0

Posted

Clients & Profits recognizes revenue on an accrual basis (i.e., when Accounts Receivable invoices are posted); therefore, sales tax reports are calculated on an accrual basis, too.