Cash Basis Tax Report
Cash Basis is the easiest of the accounting methods. Cash-basis accounting only lets you use cash accounts to track and record transactions. You can record things like cash, expenses, and income with the cash-basis method, but you cannot track long-term liabilities, loans, or inventory. The ‘Cash Basis Tax Report’ shows all cash revenue you (the carrier) received from CarrierNet as payments. You will not need adjustments, fees, or reserves reported for this method as all adjustments and fees are taken out prior to the cash deposit.