Basic Accounting

Learn about business accounting methods.

  • Daily Recording of Business Transactions

    While few entrepreneurs start their own businesses because they're fond of paperwork, recording your day-to-day sales, purchases and other transactions is a must. Learn where to record what, and how often to do so.

  • Accounting for Cash Transactions

    Keeping track of your cash, payables, and records can challenging. Find out the most efficient ways to keep your money and your records in line and updated appropriately.

  • Learn the Basics of Closing Your Books

    An overview of the accounting principles and practices that small business owners need to be aware of when preparing financial statements and tax returns, whether done monthly or annually.

  • Credit and Collections

    Establishing appropriate credit policies and collection procedures is vital to the success of any small business. You must decide what types of credit to offer, or even if offering credit is right for your business.

  • Accounting for Tax Purposes

    One of the most important uses of your financial records is to help you comply with federal and state tax laws and prepare your annual tax returns.

  • Preparing Financial Business Statements

    Financial statements, though often feared as a very intimidating portion of small business accounting, are just a matter of putting the trial balance amounts onto properly formatted statements. Learn how to prepare these documents you'll need for shareholders, potential financiers and your own insight.

  • Making Adjusting Entries for Unrecorded Items

    With few exceptions, most businesses undergo a variety of changes that require adjustment entries. We'll show you how to rectify everything from bad debts to depreciation to keep your books organized.

  • Reporting or Retrieving Unclaimed Property

    States and the federal government hold billions of dollars in property deemed abandoned by its owners. You can make your claim to any unclaimed property listed in your name.

  • Accounting for Bad Debts

    Because you can't know in advance the amount of bad debt you'll incur, learn how to make an allowance for potential debts.

  • When Is a Debt Uncollectible?

    Sometimes small business owners have to face a painful fact: You'll probably have some uncollectable debts. See which debts you're better off writing off.

  • Improving Your Collection Cycle

    Collecting overdue accounts is, for many small business owners, the most unpleasant task of all. Learn what you'll need to track delinquent payments and, if need, use an attorney or collection agency.

  • Accepting Credit Cards

    Once you've decided to accept credit cards, you'll need to jump through a few hoops before getting that fancy card swiper near your register. Learn what steps to take to start taking plastic.

  • Building a Credit Policy That Works

    Before you extend credit, you'll want to craft a policy that ensures you're making it easier for customers to pay you without making it a cakewalk for the unscrupulous to scam you.

  • Maintaining a General Ledger

    The general ledger reflects a permanent summary of all your supporting journals, such as the sales and cash receipts journal and the cash disbursements journal. Closing your books and maintaining your general ledger should be one of your top priorities.

  • The Accounting System and Accounting Basics

    Accounting for the results of your business activities requires keeping your records in an organized and consistent fashion. While businesses differ tremendously, the basics of accounting critical to running any business remain the same.

  • Unclaimed Property Rules and Time Limits by State

    Find your states rules for remitting unclaimed property and staying within any time limitations.

  • Is Your Business Accepting Electronic and Mobile Payments?

    New smart-tech payment methods are being used more widely by customers and savvy business owners alike--know your options.

  • Basic Bookkeeping and Working With an Accountant

    A little basic bookkeeping can go a long way in keeping your business organized and profitable. Learn what you'll need to know and how to find qualified professionals to help you.

  • Accounts Receivable Aging Schedule Illustrated

    The accounts receivable aging schedule is a useful tool for analyzing the makeup of your accounts receivable balance. Analyzing the schedule allows you to spot problems in accounts receivable early enough to protect your business from major cash flow problems.

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