In that case, they may decide simply to use another method for their own books as well. Contractors record revenue when and only when they receive payment — and report expenses when and only when they actually pay. Under cash accounting, if money https://blackstarnews.com/detailed-guide-for-the-importance-of-construction-bookkeeping-for-streamlining-business-operations/ hasn’t changed hands yet, there are no financial transactions to account for. […]