How to account for rent cheque?

[George]

Hi,

Thanks a lot for your answers, It all makes sense.

Michael: I totally understand all this seems to be an overkill in my
case, but soon I'll be helping with some family business. So I see it
more like practicing to learn the basics, starting with the easy stuff
to get comfortable.




On Tue, Mar 3, 2015, at 11:05 PM, Michael DeBusk wrote:
> On Tue, Mar 3, 2015 at 6:24 PM, geo909 <geo909.fora at gmail.com> wrote:
> 
> > So, given that I go with the accruel method, can you please confirm that I
> > get the following example right?
> 
> I won't comment on the transactions because others have covered that.
> I'll just say this: Please, do yourself a favor and don't use accrual
> accounting. It's so very not worth the trouble for personal books.
> People who use the accrual method go to school to learn all the ins
> and outs.
> 
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