Cash-Basis - Is a method of accounting where revenues are recognized when cash is received, and expenses when they are paid. This method does not recognize accounts receivable or accounts payable.
Accural-Basis - Is a method of accounting where revenues and expenses are recorded when they are earned, regardless of when the money is actually received or paid. For example, you would record revenue when a project is complete, rather than when you get paid. This method is more commonly used than the cash method.