(no title)
fernovus | 4 years ago
Keep in mind that these projects were born for personal accounting that use the cash-basis approach. Business are more complex and require an accrual approach, simplyfying we can say that they recognize revenues in a period only when these are certain, and recognize expenses related to these revenues in the same period, even if the expense occurs before or after the revenue.
You don't need to perform these steps for personal finance, you just "follow the money".
I'm enjoying plain text accounting for personal use but I struggle to see it applied in business use cases.
trs-80|4 years ago