Accruals: How This Accounting Concept Works – Kurt Woock

An accrual is an amount of money owed to or by a business. Accruals take place whenever future payments are promised for goods or services. They also include other types of anticipated inflows or outflows of cash, like rent. An accrual happens on both the seller and buyer sides: A business that sends a $100…

Kurt Woock writes for NerdWallet. Email: kwoock@nerdwallet.com.

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