Changes You Need To Make Between Bookkeeping And Tax Prep Numbers
If you use the accrual method of accounting, the way you account for your business records varies from the accounting you need to embrace when you file your tax return. There are several different elements that need to be changed. Here are some of the accounts that need to be reviewed at tax time. 1. Revenue With accrual accounting, you count revenue as it’s earned rather than as it’s received. As a result, your revenue number may contain a lot of sales from clients who haven’t paid their bills. Read More»