Accrual

Accrual is a method of accounting. An accounting method that recognizes a company's financial performance by recording income and expenses at the time a transaction occurs, rather than when a payment is received or an invoice is paid.

Definition

According to the HRBoK Guide,

Accrual. A method of accounting. An accounting method that recognizes a company's financial performance by recording income and expenses at the time a transaction occurs, rather than when a payment is received or an invoice is paid.