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- My client has their store on the cash method of accounting for everything except inventory which is on an accrual basis. How do I put that into pro connect?
My client has their store on the cash method of accounting for everything except inventory which is on an accrual basis. How do I put that into pro connect?
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kborchert-ivyte
Level 1
05-02-2023
06:50 AM
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Under Schedule C business information I put (1) for accounting method: cash. What do I put for inventory method if that is on the accrual basis? I only get the options of 1=cost, 2=lower cost, 3=other.
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PhoebeRoberts
Level 11
05-02-2023
07:10 AM
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Your client uses a hybrid overall method of accounting.
The inventory question asks how the value of the inventory is determined.
