Assertion: cash | /r/HasProperty | received
Facets:
value: from the customers
type: OTHER
value: from a sale
type: OTHER
Source sentences:
text: In other words, revenues and expenses are recorded when cash is received and paid, respectively.
text: Cash basis refers to a major accounting method that recognizes revenues and expenses at the time cash is received or paid out.
text: This contrasts accrual accounting, which recognizes income at the time the revenue is earned and records expenses when liabilities are incurred regardless of when cash is received or paid.
text: Using cash-basis accounting, the company is only able to recognize the revenue upon project completion, which is when cash is received.
text: Cash accounting is an accounting methodology under which revenue is recognized when cash is received, and expenses are recognized when cash is paid.
text: Revenue is reported on the income statement only when cash is received.
text: The cash method of accounting, also known as cash-basis accounting, cash receipts and disbursements method of accounting or cash accounting (the EU VAT directive vocabulary Article 226) records revenue when cash is received, and expenses when they are paid in cash.
text: For this reason, it may be beneficial for small-business owners to know how much cash is received and spent over time and plan to ensure that it has sufficient cash to manage its operations and fund its growth.
text: When cash is received from a sale, it is recorded in the accounts as a sale, and when payment is made on an expense, it’s recorded as an expense.
text: An accounting method in which income is recorded when cash is received, and expenses are recorded when cash is paid out.
text: The cash basis of accounting is the practice of recording revenue when cash has been received, and recording expenses when cash has been paid out.
text: Cash flow is reported on the cash flow statement, which shows where cash is being received and how cash is being spent.
text: A Cash receipts journal is a specialized accounting journal and it is referred to as the main entry book used in an accounting system to keep track of the sales of items when cash is received, by crediting sales and debiting cash and transactions related to receipts.
text: (Under the cash basis of accounting, revenues are not reported on the income statement until the cash is received.)
text: Revenues are reported on the income statement when they are earned, which often occurs before the cash is received from the customers.