Revenue would not be accounted for under cash-based accounting until the firm charges the customer’s credit card, receives authorization, and deposits the monies in its bank account.
This item would then appear on the income statement as revenue and on the balance sheet as cash.
In accrual accounting, on the other hand, it would be immediately recorded as revenue. However, it will not display as Cash on the Balance Sheet, but rather as Accounts Receivable.
The money would be recorded as cash only when it was placed in the company’s bank account.