I understood that, you are referring from accrual point of view. Ignore, if

2. what is receipt method.

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Answer Posted / balu

I understood that, you are referring from accrual point of view. Ignore, if my understanding is wrong.
There are two ways/options to recognize goods or services for a period.
1. At receipt
2. At period end

As per accrual concept business should recognize the goods or services when they earned. So, here at above options (Common options for payables and procurement) business decides when to account the accrual, whether at the time of receipt or at period end.

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