What Is Your Primary Method Of Accounting?

[mitchellwilliam912]

Honestly, I'm still using traditional pen and paper for my receipts. Every two weeks, I provide them to my accountant. While this method is relatively new for us, my accountant has adopted a more modern approach by scanning everything onto his computer. This ensures we have a digital backup, which feels more secure than relying solely on physical copies. Interestingly, I've come across people who have completely abandoned paper copies. What about you? What's your preferred method?

 

[omeracc]

There are two primary methods of accounting— cash method and accrual method. The alternative bookkeeping method is a modified accrual method, which is a combination of the two primary methods. Cash method—income is recorded when it is received, and expenses are recorded when they are paid.

For More information, please visit Omer & Company Accountant

 

[shahjalal1576]

I used to do the pen and paper thing too, but I switched to digital receipts a while back, and it's been a game-changer for me. I use apps like Expensify and Evernote to keep track of all my receipts on my phone. It's super convenient, and I can access them whenever I need to without digging through a pile of paper.

 

[anelson]

cash method