Accrual Method

Business, Legal & Accounting Glossary

Definition: Accrual Method


Quick Summary of Accrual Method


Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.



What is the dictionary definition of Accrual Method?

Dictionary Definition


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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Accrual Method. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/accrual-method/ (accessed: December 01, 2020).
American Psychological Association (APA):
Accrual Method. PayrollHeaven.com. Retrieved December 01, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/accrual-method/

Definition Sources


Definitions for Accrual Method are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th February, 2020 | 0 Views.