Accrual and Cash methods are two important concepts when it comes to accounting. The Accrual method is an accounting approach where revenue is recognized when a sale is made, even if cash isn’t received immediately. This can help business owners more accurately track their finances. The Cash method, on the other hand, is an approach that records only income when money has been actually received. Both approaches are valid methods of accounting – the right one for your business depends on your specific needs and financial situation.