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cash basis accounting

Allow for choice of cash basis accounting or the current accrual basis

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    anonymousanonymous shared this idea  ·   ·  Admin →

    17 comments

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      • JohnJohn commented  · 

        please implement ASAP

      • Jack BJack B commented  · 

        I too am running a small business and I agree completely with Elite Design Solutions, I can't think of any business that wants to pay sales tax before it's even collected. Requests here do not seem to make a difference.
        In fact I haven't received notice of any changes in a year and my subscription is almost up. Year end would be a good time to switch.
        I will definitely take a look at the other 2 you mentioned by Elite Design Solutions.

      • Elite Design SolutionsElite Design Solutions commented  · 

        I'm seriously considering switching to beancruncher.com or manager.io. They both support the cash basis accounting and since this request was first brought up almost 5 years ago, it doesn't seem to be a top priority. It seems to me that most small businesses would benefit from this and especially since they are the core user group of workingpoint.

      • AnonymousAnonymous commented  · 

        Please upvote. As a small business owner it doesn't help me to pay sales tax on unpaid invoices and it's a major PITA come tax time if I have invoices that have not been paid.

      • cervercerver commented  · 

        yes this is a must and i may have to switch because of it. it should be a VERY easy thing to add. reports just need to filter out unpaid invoices and bills.

      • Jeff BJeff 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.

      • JeffJeff commented  · 

        I agree. This would be a very useful feature for small businesses. Please add an option for cash based accounting.

      • David PuckettDavid 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.

      • TonyTony commented  · 

        Question for Working Point Support...is there a workaround for cash basis when generating reports?

      • Elite Design SolutionsElite 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 GaleVan Gale commented  · 

        Wow. Voting on this is like voting to add a chart of accounts feature. This isn't a "nice feature to have".

      • AnonymousAnonymous commented  · 

        Can't use WorkingPoint without this. Too bad.

      • LeslieLeslie commented  · 

        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 ThiessenJim Thiessen commented  · 

        I would also like to see a cash based accounting method. This is starting to cause problems with my accounting.

      • affreeman1959affreeman1959 commented  · 

        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.

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