Cash? Accrual? What the heck?

Episode 12:  This is the second episode in our Financial Basics for Authors series. In this episode, I talk about the two different ways used to account for your business activity: Cash basis or accrual basis. I explain what each one is, and which one is best for an indie author’s business.0:00 Intro to this week’s episode0:32 Welcome to the Podcast1:31 The two methods of accounting2:45 The cash basis method5:48 The accrual basis method9:49 The accounting standard10:26 Problems caused by using the cash basis15:05 Advantages of using the accrual basis15:51 How to use the accrual basis17:31 The reasons accrual is better19:24 New coaching service for your author business!Show Notes:Find out more about how I can help you with your author business with Author Business Coaching: https://indieauthorbizguide.com/abc/Support the showAdditional show notes and transcripts are on my website: IndieAuthorBizGuide.com/podcastLearn more about Micro Coaching To get more in-depth assistance with your author business, my Author Business Coaching may be for you.Get your free Indie Business ChecklistCheck out my fantasy booksLearn more about, and purchase the book: Business and Accounting for Authors Support the show, buy me a coffee!Connect with me!LinkedIn: tora-moon-author-bizguide Facebook: indieauthorbizguide Instagram: @toramoonindiebiz Music, Inspiring Sunny Day, used on the show is licensed from Nazar Rybak via MelodyLoops.com