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Get your taxes done using TurboTax
If you are maintaining any significant inventory, you may wish the "hybrid" method instead (Appears as "Other" in the Accounting Methods, and then you type in Hybrid). Accrual method is generally required for inventory, so this method allows you to use Cash method for Sales (when you actually receive the money), but accrual for your inventory (cost expensed when you order and move the product)
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‎January 15, 2021
8:20 AM