Accounts Receivable Accruals Record Keeping 
Billing Platform
FEBRUARY 17, 2025
Accrued revenue is a cornerstone of accrual accounting, playing a vital role in accurately reflecting a company’s financial performance. This article explores the meaning, examples, and importance of accrued revenue, while comparing it with deferred revenue and accounts receivable. What is Revenue Accrual?
Accounting Tools
AUGUST 14, 2024
What is the Modified Cash Basis of Accounting? The modified cash basis of accounting uses elements of both the cash basis and accrual basis of accounting. In essence, the modified cash basis uses the cash basis of accounting, with accrual adjustments added to it.
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Billah and Associates
JULY 19, 2023
Bookkeeping Basics: An Overview of Essential Accounting Principles for Small Business Owners Understanding the fundamental bookkeeping concepts is crucial to maintaining financial stability and success. These principles lay the foundation for accurate record-keeping and financial reporting.
Accounting Tools
APRIL 19, 2023
The double entry system requires more skill in recording transactions, and is used by all larger organizations. Cash or Accrual Basis The cash basis of accounting only records transactions as cash is received or spent, while the accrual basis of accounting records transactions when they should be recognized, irrespective of changes in cash.
Accounting Tools
JULY 28, 2023
The installment method is better than generic accrual basis accounting when payments may be received for a number of years, for the accrual basis may recognize all of the revenue up front, without factoring in all of the risk inherent in the transaction.
Jetpack Workflow
MARCH 21, 2023
There are several disadvantages to using spreadsheets for your bookkeeping: Excel requires a lot of manual work to enter accounting data. For businesses using the accrual method of accounting, it means double the work, entering data twice for every transaction. However, it’s not always a smooth process with Excel templates.
Accounting Tools
JULY 16, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is Double Entry Accounting? Double entry accounting is a record keeping system under which every transaction is recorded in at least two accounts. You sell the goods to a buyer for $1,500.
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