Cash Basis & Accrual Accounting

Running a successful business is full of challenges. Things can inevitably go wrong, however minimizing the consequences is essential. Mismanaging your money, cash flow issues, and more are critical enough to cause your business serious problems. At Momentum Bookkeeping, our cash basis and accrual accounting services are designed to help you manage and control the financial aspects of your unique business. From reporting on income when it leaves your hands to paying income tax, our professionals are here to help.

Cash Basis Accounting

When it comes to cash basis accounting, our professionals will assist your business in recording income as it is received and expenses as they are paid. This method of accounting only records your expenses once money leaves your account to vendors, pay supplies, and other third parties. As a result, we’ll ensure your organization properly records payments when they are received in the form of cash, checks, credit card receipts, and gross receipts.

Accrual Accounting

With our methods for accrual accounting, our professionals will ensure your business accurately records income and expenses when they are billed and earned, regardless of when the money is received. Accrual accounting is a fundamental asset to your organization as it provides a clear picture of your company’s overall finances.

Trust Momentum Bookkeeping to focus on your finances so you can spend more time growing your business. To learn more about our cash basis and accrual accounting services, contact us today!