receipts and payments basis


Accounting dictionary. 2014.

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  • receipts and payments basis — /rɪˌsi:ts ən peɪmənts ˌbeɪsɪs/ noun a method of preparing the accounts of a business, where receipts and payments are shown at the time when they are made (as opposed to showing debits or credits which are outstanding at the end of the accounting …   Dictionary of banking and finance

  • cash basis of accounting — receipts and payments basis Accounting based on the cash concept rather than the accruals concept. Transactions are recorded on the date that cash is received or paid out and are included in the profit and loss account in which these payments… …   Accounting dictionary

  • cash basis — /kæʃ beɪsɪs/ noun a method of preparing the accounts of a business, where receipts and payments are shown at the time when they are made (as opposed to showing debts or credits which are outstanding at the end of the accounting period). Also… …   Dictionary of banking and finance

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  • accrual basis — noun a method of accounting in which each item is entered as it is earned or incurred regardless of when actual payments are received or made • Ant: ↑cash basis • Hypernyms: ↑accounting, ↑accounting system, ↑method of accounting * * * noun …   Useful english dictionary

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