All your finance & accounting questions answered in one place

Accounting Method: Cash or Accrual, Which Should You Choose?

Cash accounting records income when paid; accrual records it when earned. Compare both methods, IRS rules, and which to pick on Schedule C.

What Is a Down Payment in a Journal Entry?

A down payment in a journal entry records cash paid upfront for goods, services, or an asset. See how to record it correctly with examples