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How can I change the accounting method from accrual to cash?

Cash based accounting is becoming just a rare thing and thus SlickPie uses the accrual method of accounting. All the reporting is based on this method. This is the recommended method of accounting by the financial and accounting associations and is the most commonly used method in Canada/ USA. You can add cash transactions via Record Income and Record Expenses in SlickPie.

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Comments

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    Nikeita Passley

    Cash based accounting isn't becoming rare and makes it harder at the end of the tax year for some businesses who are looking to file tax returns. Accrual accounting can throw of accounting reports because it records revenues and expenses when they are incurred, regardless of when payments are received which is not my preferred way of doing businesses. Because of this, I cannot utilize your software.

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    Matthew D Erlacher

    Right on, Nikeita. Cash based accounting isn't becoming rare at all! Who told you guys that it is? CPAs and accountants all over the place (in USA) strongly advise cash accounting for most small business.

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