What Are Some of the Differences Between Cash and Accrual Accounting?
At HHA Accounting, we bring more than three decades of experience to each of our clients. When you’re searching for a certified public accountant who goes the extra mile, you can rest assured that we’re ready to lend a helping hand. In today’s post, we’re discussing key differences between cash and accrual accounting. Learn more below, then contact us today to get the help you need!
The Difference
With accrual accounting, you can ensure that your business has an accurate understanding of your current financial position. Simply put, with accrual accounting, businesses know exactly what to expect because entries are made on books before monetary exchanges are made. With cash accounting, the opposite is true — transactions show up on financial statements when the cash enters or leaves the business.
Which Is Better For My Business?
If you’re wondering whether your business should choose cash or accrual accounting, you’re not alone. At HHA Accounting, we’ll take the time to listen to your needs, carefully assess your situation, and recommend a solution that works for you. Because every business is different, this ensures we’re able to provide the best service as your certified accountant.
Is One Better Than the Other?
In many instances, accrual accounting ensures a more accurate picture of your business’s overall health. When it comes to cash versus accrual accounting, neither is inherently better than the other — but chances are that one is better for your specific situation, and for most businesses, accrual accounting gives the most accurate overview of a company’s finances.
How We Can Help
When you choose to enlist the help of the certified public accountants at HHA Accounting, you can rest assured that we’ll put our skills to work for your business. We strive to offer unparalleled services and a keen eye for details, ensuring that you know you can rely on us for your accounting needs.
Are you in need of healthcare accounting services? Leave it to the pros at HHA Accounting! No matter your situation, we’ll work hard to be an asset to your business with our hands-on approach. Reach out now to get the help you need!