[ferrus]

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

[Clough]

Hi, ferrus!

Until someone comes along personally to address your question, you might want to click on the following link to see what information is available.

LINK

Thanks!

[morgaine300]

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.