AccountingBLOCK

longster4 · 04-07-2008, 05:12 PM

Can cash accounting and accrual accounting be used in the same year? Simultaneously? If yes, does the IRS need to me notified? When do they need to be notified?

amd87 · 04-07-2008, 05:13 PM

You either use cash or accrual per accounting period.-- if you wish to change - you request permission to change from IRS for next accounting period.-- Unless you use a hybrid method--but for the same time frame for the same accounts you may not switch from cash to accrual in the same period.

longster4 · 04-07-2008, 05:14 PM

Thanks man!

04-07-2008, 05:12 PM	#1 (permalink)
longster4 Status: n00b Join Date: Mar 2008 Posts: 10 Credits: 211	Accounting Method for IRS purposes Can cash accounting and accrual accounting be used in the same year? Simultaneously? If yes, does the IRS need to me notified? When do they need to be notified? __________________ Longster - NoNo

04-07-2008, 05:14 PM	#3 (permalink)
longster4 Status: n00b Join Date: Mar 2008 Posts: 10 Credits: 211	Thanks man! __________________ Longster - NoNo

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04-07-2008, 05:13 PM	#2 (permalink)
amd87 Status: n00b Join Date: Mar 2008 Posts: 13 Credits: 223	You either use cash or accrual per accounting period.-- if you wish to change - you request permission to change from IRS for next accounting period.-- Unless you use a hybrid method--but for the same time frame for the same accounts you may not switch from cash to accrual in the same period.

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