Basic Accounting for a Small Business: Bookkeeping and Accounting Basics
Snyder
JANUARY 3, 2023
Larger companies tend to use the accrual basis of accounting, meaning that revenues and expenses are recorded at the time of the transaction (when you get a bill or raise an invoice), not at the time when the payments are made. In other words, you need to choose the accounting method that’ll fit your business needs.
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