FiscalInsights

accounting

Accrual Accounting

An accounting method that records revenues and expenses when they are incurred, regardless of when cash is exchanged.

Money owed by a business to its suppliers or creditors for goods or services received but not yet paid for.

Money owed to a business by its customers for goods or services delivered but not yet paid for.

Any resource owned by a business that has economic value and can provide future benefits.

A financial statement showing assets, liabilities, and equity at a specific point in time.

The process of recording daily financial transactions including sales, purchases, payments, and receipts.

FiscalInsights uses AI to automate bookkeeping, track expenses, and forecast cash flow. Save 10+ hours per month.