Difference between accrual and cash basis accounting
ContentCash Basis MethodSet Up the Right Accounting Software for Your BusinessPayment SolutionsCash Basis Accounting Method: Definition & ExamplesIs cash basis better than accrual?What Are Income Statement Accounts? If a business has inventory, the IRS usually requires the accrual basis accounting for recording it. There are, however, certain exceptions when businesses with inventory can used cash basis accounting. The cash basis is a much more simplified accounting system then the accrual basis. Cash basis accounting only recognizes income and expenses when...