Does Bench support cash basis accounting and accrual based accounting?
Bench only supports bookkeeping on a cash basis. This means that we record transactions as soon as the money has been deposited into your bank or charged to your bank/credit card. This is the simplest and most efficient way to manage your small business.
Alternatively, bookkeeping can be done on an accrual basis. In this system, revenues and expenses are recorded when they are earned, regardless of when the money is actually received or paid. Bench does not support bookkeeping on an accrual basis.