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Accounting for Small Business Owners

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Wanting to Get a Handle on Your Business Finances?

This basic accounting site is designed to help small business owners, students, or anyone wanting to learn accounting in a simple easy-to-understand language.

The examples and tips in this accounting site will give you a solid foundation to build your accounting knowledge.

If you are just starting in your journey to understanding accounting basics better or a small business owner desiring to ensure your accounting system is set up correctly, see this twelve lesson accounting series!

This site also offers free accounting software downloads for small business owners. (see details below)

Understanding accounting concepts is a crucial component of a successful small business!

Such as:

Twelve Lesson Accounting Series

Free Accounting Software

Most business should and do use a double entry accounting system; however, there are certain circumstances where a small business can use a single entry bookkeeping system such as:

  • a start-up business; or
  • a small business with little or no accounts receivables (money owed to your business by your customers) and few or no liabilities (debts owed by your small business); or
  • a small business that cannot afford expensive accounting software just yet
  • ...my free accounting spreadsheets may be just what you need. See this page for details on the free accounting software that you can easily set up and begin to use right away: Free Accounting Software

    There are also sections of this site devoted to the small business owner such as setting up a petty cash account, free mileage log sheet with all of the required IRS information included, choosing the best small business accounting software, and how to set up payroll.

Accounting Resources

Reader Reviews

  • I absolutely love the spreadsheets!! Thank you so much! They are exactly what I needed."

    Becky Back to Natural
  • Thank you so much. I have been stressing about doing this accounting stuff for my husband. Quickbooks was too complicated for his small business and these spreadsheets are just what I was looking for!!!"

    Josi
  • As a small business owner my expertise has always been in marketing and customer service. I have struggled with many different options for my bookkeeping.

    Vickey's basic accounting help and ledgers have made my business so much easier!"

    Kelli
  • Thank you for your free spreadsheet! It has helped me tremendously to track daily sales and get a grip on the full scope of what revenues are coming in and my expenses.

    Business mileage can be a very good deduction for your small business. It can also be a nightmare, if all the IRS required information is not included in your mileage log.

    Gabby Gumdrop Swap

Accounting How To Resources

  • Should your business outsource bookkeeping?

    Many business owners are perfectly capable of handling their own books, but doing the books may be taking time that could be better spent on other aspects of the business. …

  • Types of Accounting Services for Small Businesses

    There are a number of services that an accountant can do to help manage the financial information of a small business. Some popular services provided by bookkeeping and accounting firms…

  • What is a T Account and why is it Used in Accounting?

    A T account is a way to organize and visually show double-entry accounting transactions in the general ledger account.  In practice, T accounts are not typically used for day-to-day transaction…

  • What does EBIT Mean & How does it Work?

    EBIT Definition EBIT (also known as Operating Profit), is short for Earnings Before Interest and Taxes, measures the earnings of a business over a specific period of time, but excludes…

  • What is Owner’s Equity? | Definition | Formula | Examples

    The definition of owner’s equity is the residual equity that remains after deducting liabilities from the assets of a business.  Owner’s equity represents the claims by the owners of a…

  • Who are the Main Users of Accounting?

    Accounting provides financial data so individuals can analyze the financial health and stability of a business.  While there are many users of accounting information there are also many reasons why…

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