A set of rules that are also followed in SAP Business One that determine how income and expenses are reported in the accounts and in the income tax return.
There are two basic methods - cash accounting and accrual accounting. Businesses using the cash accounting method report on revenue received during the tax year. Businesses using the accrual method of accounting generally report on revenue
when they are earned, even if the corresponding payments are not received until a later date
Finance in SAP Business One
Financial accounting in SAP Business One contains the entries that are required by law and enriches them with ...
