Category: Accounting Lessons

Basic Accounting Concepts

Lesson 1 in the Basic Accounting series: Understanding basic accounting concepts is a must for every small business owner. Even if you have an accountant that takes care of that “accounting stuff”, you need to know accounting basics such as debits and credits and some accounting terminology. Accounting is setting up a system of […]

Double Entry Bookkeeping

Lesson 2 in the Basic Accounting series: With a double entry bookkeeping system every one of your small business transactions will be recorded into at least two of the accounts in your accounting syst

How to Record Accounting Journal Entries

Lesson 3 in the Basic Accounting series: Learning how to record accounting journal entries is the foundation of any business accounting course. Let us show you the steps and some examples! If you a

How to Post to Your Accounting Ledger

Lesson 4 in the Basic Accounting series: A general accounting ledger is a collection of your chart of accounts. It is where all of your accounting journal entries end up. Most all accounting these days is done on computers and the accounting software does the posting to the general ledger in the background. For example, […]

Understanding Financial Statements

Lesson 5 in the Basic Accounting series: Understanding financial statements is one of the keys to your small business success. Sadly, many entrepreneurs fail not because they lack knowledge of their p

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