Akaunting performs accounting on an accrual basis. Let’s see what it means and why it’s been chosen:<\/p>\n\n\n\n
Incomes are reported in the fiscal period they’re earned,\u00a0regardless of when they’re received<\/strong>, and expenses are deducted in the fiscal period they’re incurred,\u00a0whether paid or not<\/strong>.<\/p>\n\n\n\n Incomes are recorded when cash is\u00a0received, and expenses are recorded when they are actually paid (no matter when they were <\/b>invoiced).<\/p>\n\n\n\n In short, accrual basis accounting gives the most accurate picture of the financial status of your business. You can use the Cash option in reports for cash basis accounting, giving you a complete picture of the money moving in and out of your business.<\/p>\n","protected":false},"excerpt":{"rendered":" Akaunting performs accounting on an accrual basis. Let’s see what it means and why it’s been chosen: Accrual accounting Incomes are reported in the fiscal period they’re earned,\u00a0regardless of when they’re received, and expenses are deducted in the fiscal period they’re incurred,\u00a0whether paid or not. Cash accounting Incomes are recorded when cash is\u00a0received, and expenses […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":77,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","doc_tag":[],"class_list":["post-103","docs","type-docs","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/docs\/103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/docs"}],"about":[{"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/types\/docs"}],"author":[{"embeddable":true,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/comments?post=103"}],"version-history":[{"count":2,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/docs\/103\/revisions"}],"predecessor-version":[{"id":1608,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/docs\/103\/revisions\/1608"}],"up":[{"embeddable":true,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/docs\/77"}],"wp:attachment":[{"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/media?parent=103"}],"wp:term":[{"taxonomy":"doc_tag","embeddable":true,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/doc_tag?post=103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Cash accounting<\/h3>\n\n\n\n