Tracking cash expenditures for your small business is a must for obvious reasons. If you do not track cash and implement strict guidelines regarding its use, your business can hemorrhage mega profits ...

Merchandise inventory is the goods and products that a business buys to resell to customers. When your small business buys merchandise from a supplier you must record the purchase in a journal entry ...

If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with both the cash and accrual accounting methods. So, what’s the difference between cash and accrual ...

Accounting methods refer to the basic rules and guidelines under which businesses keep their financial records and prepare their financial reports. There are two main accounting methods used for ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

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A general ledger provides a complete record of financial transactions for a business. Learn how it works, why it is important, and its examples in this guide. Every business, from sole proprietorships ...

Book balance is the recorded financial position of a company as reflected in its accounting books, excluding pending transactions or external confirmations. Book balance includes all transactions a ...

Last week in a discussion with a business coaching client, I asked if she had updated bookkeeping and accounting records that would help her make the best business decision for a big question about ...

While having a solid handle on your business’s finances is essential, how you track business expenses and income may differ from how other small businesses conduct their accounting. Becoming ...