Accrual vs Cash-Based Accounting: Geographic Differences and What They Mean for Your API
The rules around accrual and cash-based accounting vary by country, entity type, and business size. The US allows cash up to $31M in gross receipts. The UK now defaults to cash for sole traders. Germany requires accrual for most businesses. This post covers the regulatory differences across markets and what it means when you are building accounting integrations through APIs.