“It’s Accrual World” Accrual basis accounting is based on the “Matching Principal” which means the goal is to match revenues and expenses in the same period. In short, this means

Cash Basis AccountingCash Basis Accounting means income and expenses are only recorded when paid.In the strictest sense, this means no accounts receivableComing Soon to a Browser Near You! and no accounts payableComing Soon to a Browser Near You exist.In theory, this means