S-corporation had cash-basis books and was cash-basis taxpayer, didn't start to use invoices until the next year with accrued income. Once you have accounts receivable, the books are considered accrual. So would I have to file form 3115 to request a change of my overall method of accounting from cash to accrual? Would I have to change the checkbox from cash to accrual on 1120S Form, Schedule B Question 1. Or can I still be considered cash.
Thanks~
