Choose Monthly Reporting That Makes Sense For Your Business
Cash Basis
The cash method reflects actual cash activity regardless of the period to which the transaction relates.
Balance sheet
Profit & Loss Statement
Accrual Basis
The accrual method is based on matching of revenues & expenses including unbilled receivables; prepaid expenses; accrued expenses, including interest; deferred revenue; and other accrual basis entries.
Accrual basis closing entries
Balance sheet
Profit & Loss Statement
Statement of Cash Flows
- Metrics — financial and operational