Accrual vs. Cash Accounting: Why Does It Matter?

To make the best strategic decision for your accounting needs, you need to understand the differences between accrual and cash accounting and how your choice may affect how you file your taxes. While the biggest difference may be easy to understand — deciding when to recognize income and expenses — there are other nuances that need a bit more explaining.  So, in this episode, we discuss:• The difference between cash accounting and accrual accounting.• How each type of accounting recognizes revenue.• Why choosing between the types of accounting matters to your business.• Our preferred accounting strategy for your business. Need more? Our team has put together a free resource library to save you valuable time and energy in your business! Ready to get started with Quickbooks? Use our referral link. If you're ready to outsource your Accounting and/or Tax prep needs go to www.littlefishaccounting.comFind us online:Instagram:www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctgConnect with Keila!LinkedInwww.krht.co