Accounting method that records revenues and expenses when they are incurred, regardless of when cash is exchanged. The term "accrual" refers to any individual entry recording revenue or expense in ...

so it would be counted as June revenue using the accrual accounting method. If Acme Adhesives instead used cash-based accounting, they would record this revenue when payment was received on July ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.