cash basis accounting
Allow for choice of cash basis accounting or the current accrual basis
Jeff B commented
This is a must. I don't want to switch away from WorkingPoint but I might have to since it does not have this option.
I agree. This would be a very useful feature for small businesses. Please add an option for cash based accounting.
David Puckett commented
+1 on the huge headache for small business to convert to cash basis at tax time. My accountant has told me that for a small business cash basis is the only way to go.
Question for Working Point Support...is there a workaround for cash basis when generating reports?
Elite Design Solutions commented
As a small business owner, the cash basis system is a must for me. I would hate to switch from WorkingPoint but the accrual system is causing way too much of a headache around tax time.
Van Gale commented
Wow. Voting on this is like voting to add a chart of accounts feature. This isn't a "nice feature to have".
Can't use WorkingPoint without this. Too bad.
This seems like this should be an option. Most small professional services business run on a cash basis.
My accountant is going to charge me to convert from accrual to cash. So, I am losing money by using WorkingPoint.
Jim Thiessen commented
I would also like to see a cash based accounting method. This is starting to cause problems with my accounting.
This is a big one for me. I just realized today that WorkingPoint is accrual based, while I've always run my business on a cash basis. This could cause a big headache at year end.