Checked the cash method block instead of accural

[harley]

Sub S started in 2010. Books are kept on accural basis and the returns were prepared on accural basis. A/R and A/P are an important factor in computing income.

Just noticed the block for accounting method (which is almost hidden at the bottome of the screen in Drake) was marked as "Cash" instead of :Accural). I beleive the software may have defaulted to the block.

Do you we need to amend the two years just to change the error. Should we just correct going forward and document in our file when the error was discoved?

[Uncle Sam]

Accounting Basis

It's called the "ACCRUAL" basis - Accural - isn't that the name of a foreign car manufacturer?

[JoshinNC]

Once is a mistake

It's called the "ACCRUAL" basis - Accural - isn't that the name of a foreign car manufacturer?

Twice is a trend, three times is, well, fill in the blank.

[arlo]

cash method

Harley, If you financial reports are on accrual method and you entered the same figures in to Drake software
I do not think it would make in difference if you showed the method as cash. Just check your financial reports
with the income tax return. If the Same, no problem.