Cash vs Accrual Accounting Methods: What’s Best for Your Business?
When choosing between accounting practices, companies have two primary methods to choose from: Cash-basis vs Accrual-basis. The main difference between cash-basis accounting and accrual-basis accounting is when you record revenue and expenses. Cash-basis accounting recognizes revenue and expenses when cash is received or paid. Accrual-basis accounting recognizes revenue and expenses when it is earned. What is bookkeeping? … Read more