Cash Basis Accounting vs Accrual Basis Accounting 11 november 2020 – Posted in: Bookkeeping

From the cash basis perspective, we simply debit cash for $80,000 and credit revenue for $80,000. Then, we paid out $20,000 in cash for expenses, which translates into a credit to cash of $20,000 and a debit to expenses of $20,000. Investing in quality accounting technology Travel Agency Accounting will save time and minimize human errors, allowing your team to focus on strategic decision-making rather than being bogged down by manual entry tasks. SUBTRACTING ACCOUNTS…