What’s the difference between cash and accrual accounting? Does Tide Accounting support both?

With cash accounting, a company records revenue when they receive customer payments and records expenses when they make payments to suppliers. Taxes are calculated on the resulting net income, so you don’t have to pay taxes on money you haven’t collected.

Accrual accounting recognises revenue when it’s earned, and expenses when they’re incurred (but not paid).

Tide Accounting is available to businesses using either cash accounting or accrual accounting.