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What does "accounting method" mean on schedule c?

 
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PaulaM
Employee Tax Expert

What does "accounting method" mean on schedule c?

Accounting method means are you using the cash method or accrual method to report income/expenses. Most businesses use the cash method to record these transactions.

See links below.

http://www.investopedia.com/ask/answers/09/accrual-accounting.asp

https://ttlc.intuit.com/questions/1901175-what-is-the-accrual-method-of-accounting

https://ttlc.intuit.com/questions/1899315-what-is-the-cash-method-of-accounting

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
PaulaM
Employee Tax Expert

What does "accounting method" mean on schedule c?

Accounting method means are you using the cash method or accrual method to report income/expenses. Most businesses use the cash method to record these transactions.

See links below.

http://www.investopedia.com/ask/answers/09/accrual-accounting.asp

https://ttlc.intuit.com/questions/1901175-what-is-the-accrual-method-of-accounting

https://ttlc.intuit.com/questions/1899315-what-is-the-cash-method-of-accounting

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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