Refers to the accounting method that recognizes revenues and expenses when cash is actually received or paid out
accounting process where revenue and expenses are recorded when cash receipts and payments are made
method of accounting where entries, for example, outlay, income, other receipt, are recorded as of the time at which the payment is actually made or received
The accounting term for recognizing revenue/expenses when the money is actually physically received or paid out Most businesses do not operate on a cash basis instead, revenue is recorded when a sale is made and not when the money from that sale is actually received When investing, be sure to analyze not only the amount of revenue for a company, but the amount they actually receive in addition to their Aged accounts and those accounts that must be written off for failure to collect
a basis of accounting under which transactions are recognized only when cash changes hands
The bookkeeping practice of recording sales and expenses only when cash is actually received or paid out, as opposed to accrual basis Generally cash basis bookkeeping is simpler than accrual basis bookkeeping, but makes securing financing more difficult also called cash method of accounting
A system of recognizing revenue and expense items only at the time cash is received or paid out
The basis of accounting under which revenues are recorded only when actually received, and only cash disbursements are recorded as expenditures
A basis of keeping accounts whereby sales and expenses are recorded when cash is received and dispersed without regard to the period to which they apply
The accounting basis used by some entities, in which revenues and expenses are recognized when the cash inflow or outflow occurs
The costs of the service when payment was made rather than when the service was performed
Method of bookkeeping by which REVENUES and EXPENDITURES are recorded when they are received and paid (See OTHER COMPREHENSIVE BASIS OF ACCOUNTING )
A basis of accounting in which transaction are recognized only when cash is increased or decreased
An accountancy reporting method that recognizes cash inflows or outflows when actually expended or received
Method of accounting in which expenses are recorded when cash is paid and revenue is recorded when cash is received
The practice of recording income and expenses only when cash is actually received or paid out See also Accrual basis
A bookkeeping method that recognizes revenue and expenses at the time of cash receipt or payment (Opposite of Accrual Basis ) (This is the same as your personal checkbook )