A basic question for any business is whether you keep your books on a cash or accrual basis. In QuickBooks, it's a question you usually answer when setting up your company in the program for the first ...

QuickBooks automatically creates an accounts receivable account and adds transactions to it when you fill in a sales form but do not receive immediate payment. Accounts receivable tracks the money ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial ...

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 ...

Accounting methods refer to the basic rules and guidelines under which businesses keep their financial records and prepare their financial reports. There are two main accounting methods used for ...