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The accrual basis is a method of recording accounting transactions which matches expenses incurred and revenues earned. This concept differs from the Cash Basis of accounting where revenues are recorded when cash is received, and expenses are recorded when cash is paid.
A printing company buys paper and sells folders with the accrual method on Bkper.
1. Create the accounts.
2. Record the transactions for paper purchase.
3. Record the transactions for sold folders.
With the accrual method you can track receivables and payables, which you cannot on the cash basis method.