Explain acruals and how to use it on a accounting trial balance sheet

Hi, ferrus!

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Thanks!

An accrual is when there's either been an expense incurred or a revenue earned, but no money has yet exchanged hands for it.

In the case of the expense, you haven't paid it yet so it goes into a payable.

In the case of a revenue, you haven't been paid yet so it goes into receivables.

So payables and receivables are always things being accrued.