Ark. Code Ann. § 26-52-502: Tax return on basis of cash actually received

(a) Any person taxable under this chapter doing business wholly or partly on a credit basis may make application to the Secretary of the Department of Finance and Administration for permission to prepare his or her returns on the basis of cash actually received.

(b) The application shall be granted by the secretary under such rules as the secretary may prescribe.

(c) Any person making the application shall be taxable on all moneys collected during the taxable period.