While generally accepted accounting principles require accrual accounting for external financial statements, many small businesses find that cash-basis accounting is both simple and fits their needs.

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...

Cash basis accounting is often better for simpler accounting situations, while accrual basis accounting is usually better for more complex finances. Discover which one is your perfect fit. Cash basis ...

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The Internal Revenue Service will typically allow you to choose the accounting method you want to use to prepare your company's tax return and supporting documents when you file your business's first ...