Blog List – Modern

In navigating the complexities of digital payments, deciding on a white-label fee gateway resolution that aligns together with your brand’s values, operational wants, and progress http://nnit.ru/news/n158396/ ambitions is crucial. UniPay’s white-label offering stands out as a premier alternative, de...Read More

Since you record income and expenses at the time of transaction, you have a better understanding of your real financial state even if the money has not yet moved to or from your accounts. Accrual accounting uses double-entry accounting, where there are generally two accounts used when entering a tra...Read More

As a refresher, in cash basis accounting, income is recorded when you receive it. One important thing to note, however, is that accrual basis accounting does not give you an accurate picture of your cash flow. If you use accrual accounting, you’ll need to keep a close eye on cash flow in order to av...Read More

Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit Inc. does not warrant that the material contained herein will continue to be accurate nor that it is completely free of errors when published. Bottom line, whether you choose cash or accr...Read More

The difference between cash and accrual accounting lies in the timing of when sales and purchases are recorded in your accounts. Cash accounting recognizes revenue and expenses only when money changes hands, but accrual accounting recognizes revenue when it’s earned, and expenses when they’re billed...Read More

Using the cash method for income taxes is popular with businesses for two main reasons. First, the method of accounting easily allows businesses to answer questions regarding annual revenue, expenses and financial losses. And for businesses that focus on inward cash flow, it is easier to align earni...Read More

Ultimately, this method may become more expensive or time-consuming, making it harder for small businesses to use. Accrual accounting requires the business to follow the Generally Accepted Accounting Principles (GAAP). One month might look more profitable than it actually is only because you haven&#...Read More

Income and expenses are recorded in your books only when the cash hits your account or leaves it. When the payment is made on Nov. 25, the consultant credits (credits decrease an asset account) the accounts receivable by $5,000 and debits (debits increase an asset account) cash with $5,000. The gene...Read More