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noraelizs
New Member

I made $2,300 on my social media services and got paid via zelle and venmo. Is the method of accounting still Cash method?

 
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MindyB
Expert Alumni

I made $2,300 on my social media services and got paid via zelle and venmo. Is the method of accounting still Cash method?

The cash method of accounting, although the name seems to imply otherwise, doesn't really mean you are only paid in cash.  It has to do with the timing of recording income.  You could be paid in cash, checks, Zelle, Venmo, or even sell on credit. If you want to continue to record income and expenses when received and paid, respectively, choose the cash method.

 

Here is some information you may find helpful: What is the cash method of accounting? and What is the accrual method of accounting?

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