Small Business Accounting 101: What You Need to Know Park University

These amounts are treated as short-term debts, rather than long-term debts, like a business loan. Dancing Accountant
Nancy McClelland, CPA, MAFM, also known as “The Dancing Accountant,” is committed to helping small businesses navigate the world of accounting, bookkeeping, and tax-related topics. Her blog is dedicated to providing up-to-the-moment accounting tips and resources. A cash register is an electronic machine that is used to calculate and register transactions.

• Sarah’s articles show that she fully understands the problems of small business owners who don’t have a clue where to start with bookkeeping.
• Sarah Booysen, the person behind this website, has been in the administration business for over two decades.
• Bookkeeping Side Hustle
  Created by FreshBooks Accounting Partner Kate Josephine Johnson, this blog is just one component of her side hustle community.
• The Successful Bookkeeper
  Host Michael Palmer is a business coach and a long-standing advocate of firm owners.
• Use case studies to provide social proof and demonstrate your expertise.
• Reviews are blog posts that provide an evaluation or assessment of a particular product or service.
• Belonging to journalist Kay Bell, a native Texan who focuses on breaking tax news, sharing tax tips, and detailing changing regulations, this site is ideal for taxpayers and tax professionals alike.

However, the balance sheet is only a snapshot of a business’ financial position for a particular date. It must be compared with balance sheets of other periods as well. Similarly, bookkeeping blog expenses are recorded when they are incurred, usually along with corresponding revenues. The actual cash does not have to enter or exit for the transaction to be recorded.

How To Find More Content Ideas

This means that you don’t record an invoice until it is actually paid. Similarly, you don’t notate outstanding bills until you actually pay them. This method offers a true snapshot of your assets and debts at any given time. By experimenting with different types of bookkeeping blog posts, you can keep your readers engaged and ensure that your bookkeeping blog remains fresh, relevant, and informative. Consider using a mix of different formats to keep your content fresh and engaging.

• If you are a small business, a complex bookkeeping method designed for enterprises may cause unnecessary complications.
• The debit column is then totalled, and then the credit column is totalled.
• The income statement does not focus on receipts or cash details.
• Read all about what the New York Times says about accounting and accountants.
• Its goal is to provide readers with access to the latest developments in accounting practices and to help accounting professionals stay up-to-date in their field.
• However, it doesn’t change the fact that Sarah publishes quality posts every week.

Bookkeeping puts all the information in so that you can extract the necessary information to make decisions about hiring, marketing and growth. Once the entries are assigned to the correct accounts, https://www.bookstime.com/articles/retained-earnings-statement you can post them to the general ledger to get a bird’s-eye view of your current cash status. Most accounting software does this for you, so you don’t need to worry about an extra step.

Step 1. Create your chart of accounts

Alyssa earns a bonus point for the Magnetic Bookkeeping & Consulting Tech Stack, aka a list of the current tech she uses in her daily work. Bookkeeping Essentials provides guidance on the fundamental concepts of the profession. Laura Kenway, a certified professional bookkeeper from Canada, runs this website. Accounts payable describes the funds your business owes, and accounts receivable is the amount you expect to earn from a business transaction. Accounts payable describes the various amounts of money your business owes to external vendors for goods and services that you have not yet paid for. You can rest assured that we will work closely with you to create actionable business plans and accurate financial reporting.

Read all about what the New York Times says about accounting and accountants. CPA Practice Advisor
It began with a focus on technology but soon evolved to include general industry news and practice management resources. In addition to the print and online publication, there’s also a podcast and several topic-based newsletters. Accounting Today
As a trade magazine, Accounting Today has served the accounting industry for over 30 years. It has also grown into a resource hub that includes a podcast and range of newsletters.

Small Business Bank Accounts

Going Concern does share articles about regulations but is more focused on the trends and scuttlebutt within the industry. Discover how franchises are improving operations and making better decisions with centralized bookkeeping. Solutions for CPA Firm Leaders
As an expert in CPA firm management, Rita Keller shares regular practice management advice and kicks off each post with an apt quote. All of the content on this informative blog is free and paid plans give you access to video content, worksheets, and more.

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page.

CPA MOMS Podcast
CPA MOMS proudly refers to itself as the “eHarmony” of the accounting world. Respecting that many moms have started their accounting and bookkeeping practices to give themselves better work-life balance, this podcast helps listeners overcome mom guilt and live their best lives. 🎧Listen in as CPA mom Twyla discusses what it means to be a progressive accountant. Sign up for Ryan’s weekly newsletter to get his latest tech roundups and industry insights for accounting and finance professionals.

There are a few options for small business funding that an accountant may be able to recommend based on the business owner’s unique needs and plan. Bank loans are a popular option and are offered by traditional banks in the form of business lines of credit, business credit cards, term loans and the like. This type of funding will typically have some of the lowest interest rates, but the qualification requirements may be strict. Her goal is to support small business owners, entrepreneurs, students, and pretty much anyone who wants to figure out bookkeeping. We particularly like Laura’s simple style because everyone can understand it with ease.