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Using Cash Flow Report for Gross Receipts figure

Breathe_better4lifeBreathe_better4life Member Posts: 2

I am a very small business owner and have been filing my own taxes since I started a year ago and it has been pretty simple (minimal to report)
. Revenue for my business has increased in the last quarter. I am using cash basis accounting and am trying to figure out which figure on the cash flow sheet I would use for Gross receipts (total sales of services) on my quarterly taxes. Can anyone help?

in Accounting Technical Support

Comments

  • ConnorMConnorM Member Posts: 1,229 ✭✭✭

    Hey @Breathe_better4life! Thanks for reaching out here. If you pull up your Cash Flow reports, you should actually have a 'Sales' header that appears under the 'Operating Activities' header there. That should be your best bet, though I'd recommend working with a local tax professional in order to make sure that everything is accounted for there! Taxes can be a tricky thing, so we don't want to misstep :)

  • Breathe_better4lifeBreathe_better4life Member Posts: 2

    That's what I thought. Thanks so much for your help!

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