Since the dawn of time, the general ledger has been an essential part of good accounting. Before digitization, accountants had been manually recording every transaction in ledgers, and it was the way organizations of all sizes kept track. However, digitalization simplified the process of recording transactions. With the advent of excel sheets and… Continue reading What is a General Ledger? Definition and Examples
Accrual vs Cash Basis Accounting
Accrual vs cash basis accounting is basically a matter of timing. The accrual method immediately recognizes expected revenue and expenses, while the cash method reflects actual revenue and expenses. In this post, we’ll explore this difference further and talk about how to decide which method you should use. What Is Accrual Accounting? … Continue reading Accrual vs Cash Basis Accounting
