Your business lives and dies by your ability to buy and sell products on a competitive margin. But, you may take for granted why bookkeeping is important to the health of your business. Several mistakes—like errors of omission—can get in the way of keeping accurate books
Read More Error of Omission: Getting to Know This Common Accounting MistakeGeneral Ledger Articles
General Ledger - Tips, Training, and News
Should I Use Cash or Accrual Accounting? Your Answer Awaits…
When it comes to running a business, you take on the role of decision-maker. And, one of your biggest decisions is if you should use cash or accrual accounting. What’s the difference? How in the world does accrual or cash accounting impact your books? We’re gonna break it all down for you.
Read More Should I Use Cash or Accrual Accounting? Your Answer Awaits…
Debits and Credits 101: Definitions & Example
In accounting, there’s one thing you can’t ignore: how debits and credits work. To keep accurate books, you need to learn and understand the difference between a credit vs. debit. Otherwise, your books will wind up unbalanced and sloppy (and no business owner wants that!). To get to know debits and credits in accounting like […]
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What Is a Nominal Account? [Definition + Examples]
Accounting deals with many different types of accounts. One account you may stumble across in your accounting journey for your business is a nominal account. But, what are nominal accounts?
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Bank Statement Reconciliation: Let’s Get Reconciling
Your books say one thing, but your bank statement says another. Sigh (why isn’t anything ever easy?!). But don’t stress—bank statement reconciliation is here to help.
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A Comprehensive Bookkeeping Clean-Up Checklist: Master Your Books
Spring cleaning is a staple in households for a reason. Over time, things get pretty messy—especially when you’re busy. And in business, the same thing can happen to your accounting books. Do your books need tidying up? Use our bookkeeping clean-up checklist to get started.
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What Is Notes Payable, and How Do You Record Them in Your Books?
At some point or another, you may turn to a lender to borrow funds and need to eventually repay them. And when that happens, notes payable come into play. Learn all about notes payable in accounting and recording notes payable in your business’s books.
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Let’s Get Real: How Much Do You Know About Real Accounts?
In accounting, you deal with a variety of accounts to balance and organize your books. One type of account you will likely run into is a real account. But, what are real accounts exactly? And, how does it differ from other accounts in accounting? Allow us to give you the scoop with an overview, examples, […]
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The 8 [Give or Take] Accounting Cycle Steps for Airtight Bookkeeping
You want a simple way to complete bookkeeping tasks. After all, the more organized your process, the faster you can record transactions and get back to business. To stay on track, you might consider using an accounting cycle. And to do that, you need to know the accounting cycle steps.
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What Is Transaction in Accounting? An Easy Guide
Keeping your books in order throughout the year is important. So, you track every item, line by line. And, you record every transaction. But, what is transaction in accounting? What, specifically, do you need to track and record?
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