Double-entry bookkeeping is a system that tracks the way funds flow within a business by accounting for transactions as transfers from one account, or bookkeeping category, to another. In double-entry ...

Should a small business use a cash or accrual accounting method? A CPA answers with examples. If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with both ...

Accrual accounting is one of the primary accounting methods and is based on the matching principle, which dictates that revenues and their associated expenses be recorded in the same accounting period ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

Most farmers naturally assume they can use the cash method of accounting. Under this method, a farmer reports sales as they receive cash and are allowed to deduct expenses as they are paid. There are ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...

Many contractors can build better cash flow using accounting options that until passage of the Tax Cuts and Jobs Act (TCJA) were unavailable to them. Nevertheless, there remains a surprising number of ...

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...