Are there any accountants out there that would like to convince me that accrual accounting is better for a small business than cash accounting?
I'm talking about having a discussion, not an argument. An exchange of ideas and open minds. We can have a civil chat and explain to each other why we think our idea is better.
I believe that cash accounting is the only way to go for small businesses unless accrual accounting is required for a bank loan.
How small a business?
Let's start at the $25,000,000 mark. That the IRS limit established in 2018 before you need to do accrual accounting for tax purposes.
I am guessing that there are a few accountants out there that disagree with this position!
Are you interested in having the conversation?
Please let me know in the comments!
#accounting #wtcfg #bookkeeping