OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
Cash or Accrual Accounting? Part 2
November 21, 2019 by OSYB Staff
As a business owner, you have two accounting methods to pick from, either cash basis accounting or accrual basis accounting. Intuit QuickBooks shares a quick summary of accrual basis accounting since you learned about cash basis accounting in the previous blog: Accrual basis accounting: outlined by the Generally Accepted Accounting Principles (GAAP) provides a clearer […]
Cash or Accrual Accounting? Part 1
November 19, 2019 by OSYB Staff
As a business owner, you have two accounting methods to pick from, either cash basis accounting or accrual basis accounting. Intuit QuickBooks shares a quick summary of cash basis accounting that you should familiarize yourself with: Cash basis accounting: simpler of two methods and does not consider accounts payable or receivable applies payments only upon […]
