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    BenRab's Avatar
    BenRab Posts: 1, Reputation: 1
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    #1

    Oct 20, 2008, 06:11 PM
    What is an accrual in accounting?
    Can someone tell me what "accrual" is in accounting and what it is for? Tkx.
    MF Controller's Avatar
    MF Controller Posts: 25, Reputation: 2
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    #2

    Oct 22, 2008, 09:24 AM

    An accural is for accounting for expenses in the month that they were incurred. For example if I spend $100 on a plumbing service in September but I won't receive the bill/invoice until October but I want the expense in September's financials, then I would accrue the expense in September and then when I actually pay in October, I will pay and reverse the accrual
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