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What Is Your Primary Method Of Accounting?

mitchellwilliam912

mitchellwilliam912

New Member
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?
 
O

omeracc

New Member
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
 
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