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New Member
posted Oct 29, 2019 6:04:35 PM

Sole proprietorship small business. How to switch from using accrual method to cash method?

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1 Best answer
New Member
Oct 29, 2019 6:04:36 PM

As a self-employed individual, you must use the accrual method unless you are a farmer, fisher, or self-employed commission sales agent.  Please see http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/ccntng-eng.html.  If you fall within these parameters and want to switch your accounting method please advise.

1 Replies
New Member
Oct 29, 2019 6:04:36 PM

As a self-employed individual, you must use the accrual method unless you are a farmer, fisher, or self-employed commission sales agent.  Please see http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/ccntng-eng.html.  If you fall within these parameters and want to switch your accounting method please advise.