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Glossary

Accrual

Recording revenue or an expense in the period it happened, even if cash hasn't moved yet.

Recording a revenue or expense in the period it actually happened, even though the cash hasn't moved yet. The classic example: you received a service in March but the invoice arrives in April, so you accrue the expense in March to keep that month's books honest.

In Bizdivers: the Close cockpit's Accruals & Adjustments section books these at period end and even suggests accruals it detects. See Close the month.