Welcome to our Support Center

< All Topics
Print

What is the difference between the Cash and Accrual Sales Tax reporting options in KIS BOOKS?

What is the difference between the Cash and Accrual Sales Tax reporting options in KIS BOOKS?

Cash Sales Tax reports include all transactions but filter out unpaid sales invoice values, these reports will include part payments of outstanding invoices as they are paid.

Accrual reports include all transactions on an incurred basis. That is to say all unpaid sales invoices are included. When invoices are paid is irrelevant in accrual reporting, the invoice date is the determining factor for reporting.

Important: Various States allow different sales tax reporting methods including Accrual, Cash and how you normally keep your books. These options can be accessed in KIS BOOKS on a State by State basis if you elect to use different reporting methods for different States. It is important that when you report, or if you change the method of sales tax reporting for any State, that you comply with the individual State’s sales tax legislation and get professional advice accordingly.

Previous Why is there four Income Accounts related to Sales Tax?
Next How do I see the individual entries I have entered?
Table of Contents