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Understanding the differences between accrual and cash accounting can affect how you file your taxes. In today’s episode, we discuss the different nuances of both accounting types and why it matters to your business.
Show Notes
To make the best strategic decision for your accounting needs, you need to understand the differences between accrual and cash accounting and how your choice may affect how you file your taxes. While the biggest difference may be easy to understand — deciding when to recognize income and expenses — there are other nuances that need a bit more explaining.
So, in this episode, we discuss:
• The difference between cash accounting and accrual accounting.
• How each type of accounting recognizes revenue.
• Why choosing between the types of accounting matters to your business.
• Our preferred accounting strategy for your business.
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Creators & Guests
What is Build to Enough ?
Little Fish Accounting presents Build To Enough. The pursuit of endless growth and scaling can leave entrepreneurs feeling burned out and unfulfilled. This podcast explores how to build sustainable, purpose-driven businesses that align with your lifestyle and values, rather than defined by rapid expansion alone. On this show, we’ll reframe definitions of success, provide strategies for structuring companies around desired lifestyles, and share stories of entrepreneurs finding deeper fulfillment by focusing on “enough.” Join us as we discuss moving off the hamster wheel and building businesses with balance and meaning.