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7540RI 08/29/2018 3:53 PM Short Form Return of Organization Exempt From Income Tax990EZFormUnder section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)Go to www.irs.gov/Form990EZ
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01
Determine the accounting method you will be using (cash or accrual).
02
Separate your business transactions into revenue and expenses categories.
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Record cash transactions in the cash column of the form.
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Record non-cash transactions in the accrual column of the form.
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Calculate the total cash and accrual amounts for each period.
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Cash x accrual form is a method of accounting used to record financial transactions either when cash is actually received or paid (cash basis) or when the transaction occurs (accrual basis).
Anyone who is required to report their financial information using the cash x accrual method of accounting.
To fill out cash x accrual form, you need to accurately record all financial transactions either when cash is exchanged or when the transaction occurs.
The purpose of cash x accrual form is to accurately report financial transactions in a timely manner using either the cash or accrual method of accounting.
All financial transactions, including income, expenses, assets, and liabilities, must be reported on cash x accrual form.
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