Business, Legal & Accounting Glossary
Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.
An accounting method under which you report income in the year you earn it, regardless of when you receive the payment. You also deduct expenses in the tax year you incur them, regardless of when you pay them.
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This glossary post was last updated: 9th February, 2020 | 0 Views.