As a franchise owner, you can run your own business without the risk of starting a brand-new company. Like any business, you take on the many responsibilities of day-to-day operations, including some basic accounting tasks. Though franchise accounting is similar to accounting for other types of businesses, it includes a few extra steps.
Read More The Basics of Franchise Accounting
There are many different accounts you can use to record equity in your business accounting books. Before you can begin tracking equity, you must learn about the different types of equity that can apply to your company.
Read More Different Types of Equity for Your Small Business: Get the Lowdown
There are different types of assets your business may have. You have probably heard of fixed and current assets. But, do you know the difference between fixed assets vs. current assets?
Read More Fixed Assets vs. Current Assets: What’s the Difference?
When you run a small business, one error in your accounting books can result in inaccurate financial statements, poor cash flow management, and even an IRS audit. To make sure your records are accurate, familiarize yourself with account reconciliation.
Read More Account Reconciliation for Small Business Owners
Many small business owners invest their own money to help fund their startups. According to one study, 78% of small businesses rely on their personal savings for initial funding.
Read More What Is Business Equity, And How Does It Represent the Value of Your Small Business?
As a small business owner, you may find yourself struggling to keep up with your business’s books. As soon as you know it, another month has passed and you’ve fallen behind recording transactions.
Read More Month-end Closing Procedure and Checklist: Keep Your Books Shipshape
As a business owner, you are likely familiar with certain accounting accounts, like your assets or expense accounts. But did you know that each account can also be labeled as a permanent or temporary account?
Read More Do You Know How Temporary vs. Permanent Accounts Differ?
If you’ve ever sent an invoice to someone who planned to pay later, you’re probably using accrual accounting. It can be hard to keep track of finances when you’ve accrued payables and liabilities. But, using the matching principle can help you stay organized. The matching principle in accounting states that you must report expenses in […]
Read More The Matching Principle in Accounting: How a Debit and Credit Fall in Love
Software is a popular type of accounting system you can use to streamline your bookkeeping process. Depending on the software you choose, you can save your time and money and focus on running your business. But first, you need to know about accounting software setup. Lucky for you, our guide makes setting up accounting system […]
Read More Setting up an Accounting System: Crunching the Numbers
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 Mistake