There are two types of accounting methods and it is almost up to you, to decide which you use. The difference is purely how a company records the ins and outs of the finances of the business. Many large companies try to use the subtle difference to manipulate their numbers and this has led to many financial scandals. Cash accounting is the method where you record your income when you actually receive it in cash or in to your bank. For example, if you do a job and invoice it on 1st April 2017 but you don’t receive the money
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