Cash vs. Accrual Accounting – Which One Is Right for You?
Understanding the Basics Cash accounting records income when money is received and expenses when they’re paid.Accrual accounting records income when earned and expenses when incurred — regardless of when the money changes hands. Pros and Cons of Cash Accounting ✅ Simple to maintain✅ Better short-term cash visibility❌ Not great for long-term planning❌ Can distort actual […]