Accounting For Developers, Part I

Re:Accounting For Developers, Part I by candiddevmike on Wednesday August 17, 2022 @07:10PM (#32502994)

What you're describing is accrual accounting (accounts payable/receivable). It is one method of bookkeeping, but a lot of other businesses tend to use cash (which deals in absolutes, you spent 5, you earned 5, etc).

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Re:Accounting For Developers, Part I by barking_biscuit on Wednesday August 17, 2022 @07:28PM (#32503151)

You can model the data in such a way that the recorded transactions can be reported on in either accrual or cash basis.

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Re:Accounting For Developers, Part I by candiddevmike on Wednesday August 17, 2022 @07:32PM (#32503194)

Not sure what you mean, as far as I know the government requires businesses to pick one form and stick to it. Unless you're building accounting software you'd have no need to support both ways.

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Re:Accounting For Developers, Part I by barking_biscuit on Thursday August 18, 2022 @08:19AM (#32508554)

I build accounting software.

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Re:Accounting For Developers, Part I by EvanAnderson on Wednesday August 17, 2022 @10:08PM (#32504373)

It’s common for US businesses to file taxes on cash basis but use accrual for managerial accounting.

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